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Somewhat appropriate name
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That simplifies things a bit...i seem to remember that if the investments had been in crypto assets as had been promised, customers would be well ahead, instead they've got their money back at the value they invested...situation could have been v different if the crypto market had tanked during this period.
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although details are a bit sketchy (washington post article is paywalled so i read some free sources), it seems that the massive rise in cyrpto prices has enabled the solvent liquidation.
so you could say
a) that's essentially luck and;
b) if the creditors still had their crypto assets, they'd be a lot more than 18% up.agree that on the face of it the sentence looks quite harsh, but otoh SBF played with a lot of fire and got quite burned.
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TGR
Gustav
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@nick_h.
It seems that Sam Bankman-Fried's victims haven't lost any money. In fact the bankruptcy proceedings recovered much more than the $8.7 billion which the creditors were owed. And he's got a 25 year sentence with no possibility of parole. He's being punished for risking other people's money without permission, but the risks paid off rather handsomely. https://www.washingtonpost.com/opinions/interactive/2024/sam-bankman-fried-michael-lewis-ftx/?itid=hp_opinions_p002_f001