Perhaps. But it sounds like many[1] have been treating the fact that FTX did in fact face a liquidity crisis as strong (conclusive?) evidence of SBF’s excessive risk-taking in a way that’s relevant for intent. And now they claim that the extent to which customers are made whole or FTX was insolvent is not relevant.
It feels like people in general are happy to attribute good luck to his decisions but not bad luck.
Including the prosecution: “its customers were left with billions of dollars in losses”, “the defendant talked with his inner circle about...how customers could never be repaid”, “Billions of dollars from thousands of people gone”, “there is no serious dispute that around $10 billion went missing”...
Perhaps. But it sounds like many[1] have been treating the fact that FTX did in fact face a liquidity crisis as strong (conclusive?) evidence of SBF’s excessive risk-taking in a way that’s relevant for intent. And now they claim that the extent to which customers are made whole or FTX was insolvent is not relevant.
It feels like people in general are happy to attribute good luck to his decisions but not bad luck.
Including the prosecution: “its customers were left with billions of dollars in losses”, “the defendant talked with his inner circle about...how customers could never be repaid”, “Billions of dollars from thousands of people gone”, “there is no serious dispute that around $10 billion went missing”...