SBF Written Testimony Notes 12/12/2022

https://assets.bwbx.io/documents/users/iqjWHBFdfxIU/rbgv1U_v6edA/v0

by 1vuio0pswjnm7 • 4 years ago

145 162 4 years ago

assets.bwbx.io

europeanguy• 4 years ago

Blaming the chapter 11 team. Funny.

secretsatan• 4 years ago

If I hadn't been forced to file for bankruptcy, none of these crimes would have been discovered

hef198983• 4 years ago

Why didn't they let me delay bankruptcy? Funding was just around the corner to keep the pnzi scheme running!

NhanH• 4 years ago

First page basically said he is so sad he didn’t have time to clean up more evidences. And “pinky swear, I promise US citizen/ residents won’t be as fucked”. How cute, and I want to see the version of this he would write when an EU or non US country try to charge and extradite him.

JumpCrisscross3• 4 years ago

to see the version of this he would write when an EU or non US country try to charge and extradite him

Why haven’t they?

jxi• 4 years ago

large political donations

rippercushions3• 4 years ago

I think they're more than happy to let the US foot the bill for the criminal trial. I'm sure there will be plenty of civil lawsuits flying in from all corners of the globe though.

ViViDboarder• 4 years ago

Bahamas have.

jasonhansel• 4 years ago

SBF: "I seriously fucked up."

Also SBF: "Why won't the bankruptcy team listen to me and take my advice?"

cxr3• 4 years ago

Please don't post these sorts of low-effort comments or use manufactured quotes.

<https://news.ycombinator.com/item?id=13602947>

<https://news.ycombinator.com/item?id=15892014>

moralestapia2• 4 years ago

The "f*cked up" quote comes straight from the document, though.

I was about to comment on how delusional SBF must be to be this deep in trouble and not snap out back out to reality, leaving aside that "edgy teenager" or whatever mien he's been exhibiting. Is he actually aware of his situation?

Perhaps the move to Fox Hill will help him come to terms with what he's done.

jcranmer3• 4 years ago

The testimony literally begins:

I would like to start by formally stating, under oath:
I fucked up.

The second quote is a pretty apt summary of what feels like roughly half the document (I didn't specifically count pages)--there's a lot of criticism of the Chapter 11 bankruptcy team, especially that he felt they were ignoring the offers he had received to keep FTX alive.

Indeed, to the extent that it's a misrepresentation of the testimony, it's because it doesn't refer to another key focus of the testimony "it was actually CZ's fault!"

cxr3• 4 years ago

Dear HN:

I am aware that "I fucked up" is a direct quote. The latter statement is not. Don't feign quotes from people if what you're dealing in is not actually a quote. This isn't hard.

And nothing changes the part where the parent comment is a low-effort, Twitter-tier, bandwagon shitpost crafted for lols. It doesn't belong here.

_5uxp2• 4 years ago

Just my guess, I think his mind has some deep delusions because of drugs he is using and maybe more.

bogomipz• 4 years ago

"I have sent five emails to Mr. Ray. Mr. Ray has never responded, nor has he reached out to me to communicate in any other ways. He has not responded, for instance, to an email of mine that stated:
“I have potentially pertinent information concerning future opportunities and financing for FTX and its creditors. I also believe that I have relevant financial information about FTX US, and further that I have potentially relevant regulatory information concerning FTX"

It's difficult to read that and not think he's become entirely divorced from reality. Weren't his ideas about "future opportunities and financing" and "relevant regulatory information" exactly the cause of this entire mess?

jrumbut• 4 years ago

There's a certain logic to it. What statement could he make where, if it was believed, it would put him back where he was three months ago?

Clamming up and speaking only through counsel might have changed things in November, but it's too late now. May as well throw your Hail Mary.

It's the same sort of logic that pervades the entire project. What would you do in a world where crypto prices only go up? Try it in the real world and see what happens.

mcculley4• 4 years ago

"John Ray and S&C were both lawyers and/or administrators for the estate, which paid out roughly $700m in legal fees"

There is a lesson here to future entrepreneurs. There is often a lot more money in the long term for those doing the boring work of cleaning up messes than for those building paper wealth and spending it on football sponsorships and other branding.

z2• 4 years ago

Indeed! There's an entire industry of litigation consulting that exists often for this very purpose. Lawyers and consultants made about $6 billion in revenues over the course of Lehman Brothers' decade-long fallout and unwinding all of the liabilities. The same industry probably made a similar amount on the opposing side as well, representing the debtholders. Very complicated and tedious work, and thus it gets rewarded.

anonymoushn3• 4 years ago

SBF stole 90c on the dollar from customers. John Ray and S&C will spend much more time and effort to pay themselves the remaining 10c.

mcculley4• 4 years ago

How much will SBF have in the end? It seems John Ray will end up richer than SBF.

555552• 4 years ago

It's slimy work, though. Basically a second set of scammers that swoop in after the first.

mcculley4• 4 years ago

How so? I have worked with accountants who serve in the role of receiver for bankrupt companies. They do not seem slimy to me.

mcculley4• 4 years ago

"I deeply regret what happened"

He does not regret what he did. He regrets what "happened".

ndsipa_pomu3• 4 years ago

"I am deeply sorry for getting caught"

Gasp0de• 4 years ago

Bla bla bla "I fucked up" Blah blah "But ultimately it's everyone elses fault and my only mistake is being the CEO while other people screwed me" Bla bla bla

dougmwne• 4 years ago

Bla bla bla all the way to prison.

ndsipa_pomu3• 4 years ago

Excuse my ignorance, but isn't the chapter 11 team supposed to be impartial and not connected with the previous "managers"? He seems to be whining about how they're not asking him for advice and help - wouldn't that be opposite to their purpose?

compsciphd• 4 years ago

no, chapter 11 is just a reorg of the debt (chapter 7 is liquidation of the company). the same management can remain in chapter 11.

ndsipa_pomu3• 4 years ago

Thanks.

That raises the question of why they didn't keep the same management for the chapter 11 reorganisation.

nicpottier• 4 years ago

The lengths he does to blame CZ and Ray is pretty telling. He really seems to still be in massive denial. The idea that he could still raise billions to make customers whole and that this pesky chapter 11 technicality is getting in the way also seems insane.

This reads as if he wrote this himself with no legal supervision. Is he under oath with these statements?

temp2022acc• 4 years ago

"raise billions to make customers whole" also still means fraud; he's taking investor money and giving it away. The purpose of invested funds is to improve the business, with a long-term goal of returning more than you were given to investors. Not doing that is the definition of securities fraud.

Sebb7672• 4 years ago

"raise billions to make customers whole" also still means fraud; he's taking investor money and giving it away.

I think the means "take investor money, make customers whole, thereby restore FTX, raise the company value and then pay back investors", which is not fraud. That being said, I wouldn't put it beyond him anymore to publicly suggest defrauding investors.

anonymoushn3• 4 years ago

Given the apparent identities of the investors, it's unlikely that he was misrepresenting his plans to them.

trillic• 4 years ago

Anything you say can and will be used against you in a court of law.

He opened with,

"I would like to start by formally stating, under oath: I fucked up."

This dude's lawyers are either fucked in the head or nonexistent.

jcranmer3• 4 years ago

At one point in the saga, he fired his lawyers because they were telling him to shut the fuck up and he didn't want to. Whatever lawyers he has now are probably still telling him to shut the fuck up, and he's completely ignoring their advice right now. Great idea, by the way, when you're facing criminal charges.

batmenace• 4 years ago

Also, a good chunk of this is him essentially insulting one of the more respected and high-performing law firms out there. He's gonna have a fun time trying to get some other firm to help him...

AlexandrB• 4 years ago

This dude's lawyers are either fucked in the head or nonexistent.

The latter, the first batch quit already: https://futurism.com/the-byte/sam-bankman-fried-lawyers-quit...

Not sure who's representing him now.

bena2• 4 years ago

He's a guy who believes he's way smarter than he actually is. He's confused luck with skill and thinks he understands things better than everyone else.

He doesn't consider the bad case scenarios because in his mind, he'll have planned for them. But he is in this scenario. Which is a bad case. That he didn't plan for. That is bad because of his attitude and lack of planning.

He thinks he can somehow fast-talk Congress into thinking he didn't commit a crime.

He's going to go to jail thinking that the jury fucked up by finding him guilty. If they just understood, they'd realize he's better than everyone and deserves to be free and rich and to use your money.

gizmo686• 4 years ago

Compared to some of the confessions he has made in other interviews, I don't think anything here is too bad.

Regarding the "I fucked up" line, I'm not sure that is damaging at all (except possibly the tone; who knows how that will play with a jury).

His lawyers may intend to argue that he was merely made mistakes, and therefore had no intent to defraud anyone.

SilasX3• 4 years ago

According to a NYT article, he was insisting that billions in funding came in 8 minutes after filing for Chapter 11, but of course, couldn't give any details, or any reason why someone would give such funding:

>In a letter to former colleagues last week, he said he regretted filing for bankruptcy, claiming that “potential interest in billions of dollars of funding came in roughly eight minutes after I signed the Chapter 11 docs.”
>He presented no evidence for that claim, and in any case, FTX was no longer his company to run.

https://www.nytimes.com/2022/11/29/technology/sam-bankman-fr...

mlsu• 4 years ago

Well, I heard that there was a Nigerian royal with a long-lost inheritance -- all he needed was for SBF to have access to the FTX bank account and the funds could have been wired postehaste!

AnimalMuppet• 4 years ago

"Potential interest". That's not actual money; that's not even "I'm interested in giving you money". That's "I could be interested in giving you money". That plus an actual $6 will get you a cappuccino.

1vuio0pswjnm7• 4 years ago

"Is he under oath with these statements?"

These are notes, not testimony. We do not know what questions would have been put to SBF. He was arrested so the scheduled hearing never happened.

Note it is rare to see anyone prosecuted for lying to Congress, and even more rare to be convicted. Remember this one:

https://archive.nytimes.com/www.nytimes.com/books/97/06/29/r...

The maximum sentence for perjury or 18 USC 1001 is only 5 years anyway.

Even if SBF could raise billions to make his victims whole, he could still be convicted of wire fraud and other charges. Fraud that is unsuccessful or results in no loss is still a crime. SBF is trying to deflect attention away from what he has done. Is it working.

Consultant32452• 4 years ago

https://www.sec.gov/news/press-release/2022-211

Looks like Caroline got her bag and is out.

propter_hoc• 4 years ago

What are you talking about? The SEC just announced their charges against SBF yesterday. They are nowhere near either a conviction and sentencing nor a settlement. It is impossible for the $20 million award you linked to be in any way related to these charges.

mthoms• 4 years ago

Whistleblowers, by definition, blow the whistle on something that otherwise would not have been discovered. But, Caroline was complicit in the scam even as the whole thing was blowing up. Remember - she offered to buy Binance's FTT stake during the so-called "bank run".

At best, she'll get a lighter sentence for co-operating. There's no chance in hell anyone will outright pay her for whistlerblowing.

bushbaba2• 4 years ago

Would be truly dirty if they gifted her 20M then followed up with a more than 20M fine for her own involvement

jjulius• 4 years ago

Yeah that's absolutely not for her.

CPLX2• 4 years ago

The payment comes at the end of the action so by definition this is unrelated.

Octokiddie• 4 years ago

A run on the bank forced immediate liquid delivery from FTX.

Which bank? FTX? FTX was in his own words an "exchange." An exchange holds customer funds in custody for immediate redemption. A bank lends customer funds out and can't meed a redemption surge.

Also, the conspiracy theorists claiming that this guy was swept out of the hearings to protect powerful people are in for a big disappointment. It's just more of the same line as before "I messed up, but I won't tell you specifically how and if I hint at it it will be self-serving."

BlandDuck• 4 years ago

I think the "bank run" terminology should be read as a term of art from economics and finance that describes the situation when an entity holds long-term assets against short-term liabilities, and these liabilities are called by customers on short notice creating a solvency issue. The classical reference is Diamond-Dybvig (1983).

It is not so critical whether the organization is formally a "bank" under a legal and regulatory definition, the economics are the same regardless.

kgwgk2• 4 years ago

The economics of an exchange are not - should not be? - holding long-term """"assets"""" against short-term liabilities.

JumpCrisscross3• 4 years ago

describes the situation when an entity holds long-term assets against short-term liabilities, and these liabilities are called by customers on short notice creating a solvency issue

FTX didn’t suffer a bank run. Diamond-Dybvig describes a bank trying “to call in their loans,” borrowers being “unable to pay back quickly, since their loans were, by assumption, used to finance long-term investments,” and thus “if all depositors attempt to withdraw their funds simultaneously, a bank will run out of money long before it is able to pay all the depositors” [1]. The bank was solvent. Then it was illiquid. Illiquidity finally caused insolvency.

FTX was not solvent to start with. Alameda owed them more than it was worth. The FTT position within Alameda resembles a bank run, but that characterisation is problematic since FTT wasn’t financing anything long term and was issued by an “exchange” doing fraud.

[1] https://en.m.wikipedia.org/wiki/Diamond–Dybvig_model

knorker3• 4 years ago

But by ToS FTX was not supposed to have any long term assets against the depositor liabilities.

They first said they did (we're not insolvent, we're illiquid) but that's already fraud. Then turns out they were also insolvent, as suspected.

throwaheyy• 4 years ago

This is a surprising level of pedantry even for HN. It’s pretty clear what the term means in this context I think.

MrPatan• 4 years ago

Oh, it's clear, except that it's also part of the campaign to make it seem as if FTX customers are partly to blame, because everybody knows that if you lend money to the bank, the bank lends it out. But FTX is not a bank, and had absolutely no business lending out customer deposits.

So yes, please, more pedantry now, to prevent any more attempts at "narrative drift"

MockObject• 4 years ago

It's not pedantry when the company in question should not be acting as a bank.

rippercushions3• 4 years ago

This testimony is truly remarkable in its level of petulant whinging. Perhaps the single most astonishing thing in it, though, are screenshots of what appears to be a private group chat with Binance CEO CZ, called "Exchange coordination":

https://imageio.forbes.com/specials-images/imageserve/63981b...

So not only is he admitting to conspiracy, he's just entered it in the Congressional record!

zeven72• 4 years ago

Interesting. It's odd that b) and c) are the same screenshot. I wonder if he intended to post a different one.

It was extremely weird for CZ to accuse SBF of trying to depeg Tether with a $250k short. I don't know what to make of that.

Also strange is how CZ asked for group admin permission from another person at FTX and then went right away to asking if anyone objected to removing SBF from the group. I guess the group was managed by FTX and CZ was attempting to take control of it as FTX was collapsing.

anonymoushn3• 4 years ago

Zane worked at Bitfinex and Okex prior to FTX so he could credibly have been admin of this group prior to FTX existing.

ChainOfFools3• 4 years ago

I think it's pretty obvious what's happening.

CZ, not yet fully aware that he is dealing with an unsophisticated bumbler (and thus the risk that this chat would someday be part of congressional testimony), is talking candidly but at cross purposes with Sammy.

CZ knows (and presumes SBF also knows) how incredibly thin this market's liquidity really is, and thus the potential destabilization that a mere 250k signal could ignite. while Sammy apparently believes something closer to version of the numbers meant for public FOMO consumption.

This little screenshot, (if not eventually proven fabricated, which is almost certainly going to be the counter signal message by CZ, parroted across the crypto community) likely is the biggest bombshell tell in this testimony so far.

bufferoverflow• 4 years ago

Tether daily trading volume is ~$30 billion. Good luck depegging it with your $0.25 million short.

bathtub365• 4 years ago

Has he? I know he was scheduled to testify but he didn’t get the chance since he was arrested. Was this written testimony still entered into the record?

ipython2• 4 years ago

Yes, I believe committee members referred to it yesterday during the hearing and asked for (and received) unanimous consent for SBF's statement to be put in the record.

ipython2• 4 years ago

Two things - not only do we have centralized exchanges, but they're also coordinating with each other... what was that about decentralization of power again?

Oh, and using seven of your 18 page testimony to basically distract from the issue at hand - seems more like a petulant child throwing a tantrum than a serious person running a multi-billion dollar business. Good lord.

jancsika• 4 years ago

Two things - not only do we have centralized exchanges, but they're also coordinating with each other... what was that about decentralization of power again?

That's the beauty of merkle trees-- you just go into your own local copy (or merely paste one from a friend's copy), check your hashes are correct, then upload it to whatever other centralized discovery service of your choice and keep doing business. Even if colluding centralized bad actors tried to append some junk, it only takes one honest friend (or honest you) to get you back to the correct level of nesting dolls. And as long as you can find one honest centralized discovery service to wrap it in, you're back to your original level of convenience.

Oh wait, that's git I'm thinking of. Yeah, these customers are absolutely fucked.

hiq• 4 years ago

I still can't reconcile how verbose he is about pretty much anything that goes through his mind with the fact that both his parents are lawyers.

joenot443• 4 years ago

I've noticed this pattern with other high IQ, well-written people. It's almost a defense mechanism, retreating back to the medium through which they're usually most successful. "If I can put things eloquently enough, perhaps they'll understand why I did what I did."

It's not dissimilar to some of the ripped athletic types I'm friends with that try and use their size to an advantage even when the situation definitely doesn't call for it. If a tongue-lashing or an ass-kicking is the immediate gut response, it's probably not the most pragmatic, I've found.

tclancy• 4 years ago

Probably Adderall.

323• 4 years ago

Interesting how the chat is put to delete replies older than 4 weeks.

They know it's not smart to leave a trace :)

dylan6045• 4 years ago

Isn't there regulation that requires retention of data like this? That's why it's common to see messages along the lines of "we should meet in person to discuss this further".

In fact, how does data retention rules specifically apply to apps that don't have large data retention or specifically have no data retention. Besides just making it harder to operate, are there penalties for companies using things like free version of Slack with short windows, or Snapchat/Telegram/Signal with self destructing messages?

rawicki• 4 years ago

That’s a recently introduced feature in Signal and 4 weeks is a proposed default option.

JumpCrisscross3• 4 years ago

not only is he admitting to conspiracy

This might nail Binance on antitrust charges [1]. If we lack jurisdiction, then on market manipulation of a U.S.-dollar linked asset.

[1] https://en.m.wikipedia.org/wiki/Sherman_Antitrust_Act

xwolfi2• 4 years ago

I find his constant reference to "putting things in the congressional record" quite interesting, as it's normally the congress members who say that, not the witnesses and even less those accused of fraud, who are here to answer questions, not commandeer the record keepers.

kobalsky• 4 years ago

first:

i) We signed an LOI that prevented us from talking to other potential investors as long as the negotiations with Binance were ongoing. ii) During that time, I received serious expressions of interest from multiple potential investors who represented billions in capital that could have gone to customers. I was inhibited in responding by the LOI.

and then:

5) At roughly 4:30 am on November 10th, 2022, against my better judgment, I clicked on a Docusign link that would nominate John Ray as the CEO of various entities. 6) Less than 10 minutes later I received a potential funding offer for billions of dollars to help make customers whole

I never read what this guy said before this meltdown so I can't actually judge for myself, but, were there signs that this clown was there? these are toddler-level lies.

SilasX3• 4 years ago

Per my other comment, he was telling the same story (regarding item 6) weeks before, in a letter to colleagues:

https://news.ycombinator.com/item?id=33984977

wnkrshm• 4 years ago

...I received a potential funding offer for billions of dollars to help make customers whole

Even if they were made whole, there would still have been fraud. A crime doesn't disappear because you tried to rectify it on your own, though you might get let off the hook a little.

robryan• 4 years ago

It seems like all of these offers were about as likely to go through as the binance one. It isn't really surprising that there would be a lot of parties interested in taking a look at doing an offer. None of them were going to invest after even a cursory look at the finances.

moralestapia2• 4 years ago

I have sent five emails to Mr. Ray. Mr. Ray has never responded, nor has he reached out to me to communicate in any other ways.

Wait ... so who is "Mr. Ray" working for now? IIRC it was called there by SBF in the first place.

ceejayoz2• 4 years ago

Wait ... so who is "Mr. Ray" working for now?

FTX's creditors.

slyrus2• 4 years ago

"chalk full"? The horror...

sgammon5• 4 years ago

came here to say this. my people

bluelightning2k2• 4 years ago

To my surprise I found some of this quite compelling.

I will withhold judgment until the inevitable fact-checking.

I think this case will end up in case-law textbooks. It's going to generate so much precedent.

skippyboxedhero• 4 years ago

I was a huge critic of SBF and his lies.

But a lot of the points he makes about the role of CZ and the bankruptcy lawyers are quite correct.

People will do the usual thing: talk about SBF in hushed tones, FTX goes bankrupt, well the guy is just a total idiot...and I agree, the guy seems like a total idiot, the interviews, the way he is behaving now...it is childish. But he is also saying stuff that is quite correct (for example, pointing out the Sullivan Cromwell immediately took their $4m but ghosted him when he was trying to talk about an offer...whether it was true or not, Sullivan Cromwell had a responsibility to check, they didn't, and they didn't because they will see way more fee income that way...I have seen this happen over and over).

The world has to be black and white in these cases, but isn't. I have no doubt that SBF committed crimes but I would gently point out: the bankruptcy lawyers have a vested interest in certain questions not being answered immediately, Ray is working at $1.5k/hour, and will be billing 10+ hours a day...for 5+ years if they are able to...$15k/day...again, FOR YEARS. That is, potentially, $20m+ of basically guaranteed income. The business is exceptionally profitable and these people are skilled in milking these cases dry (to the cost of creditors, these cases are...contrary to what people think...not terribly complicated, even with Lehman a lot of the claims were sold on...it was an international business though, so you had global law firms sink their teeth in hard).

BLKNSLVR• 4 years ago

As another commenter alluded to above: blaming the bankruptcy team?

The horse has bolted. The fact it got to that point is the point, not what happens afterwards. The fraud and whatever else has already been committed.

Anyone pointing fingers at the bankruptcy team are attempting to distract from the core issue (which is precisely why SBF is doing it - don't look at the monumental mess I made, look how badly they're trying to clean it up).

j7ake• 4 years ago

20m is a small fraction of the billions that disappeared because of SBF.

boppo1• 4 years ago

What did you find compelling?

bluelightning2k2• 4 years ago

The point about the lawyers essentially awarding themselves business, and that informing their advice.

Also I do find it somewhat credible that he drank his own cool-aid.

Important disclaimer: I would never associate "price of token goes up" with "value was created". The only way to create wealth (sustainably) is to create value in the world & capture some %age of that value.

However, I do somewhat believe that he may have thought the many-year run of on-paper profits was more material than it actually was. In the same way that many gamblers believe they have a system, etc.

slyrus2• 4 years ago

Adderall is a hell of a drug.

TheOtherHobbes• 4 years ago

So is money.

SilverBirch• 4 years ago

It's really remarkable to me just how often this guy gets offered several billion dollars just when he can't take it. It's like people can sense he's signed a document preventing him from taking money and then inexplicably jump in and start making it rain.

TurkishPoptart• 4 years ago

I'm curious about what kind of connection FTX had with the World Economic Forum. Apparently WEF had a webpage dedicated to singing FTX's praises, and then promptly deleted it after November 8th. [1]

[1] https://nypost.com/2022/11/14/how-world-economic-forum-other...

jayess• 4 years ago

Wow. He is delusional. He can't understand why the Chapter 11 team won't talk to him. He's toxic waste. He's headed for a very long prison sentence. They want absolutely nothing to do with him.

H8crilA• 4 years ago

Nowhere in these pages and pages of teenage mumbo-jumbo does he talk about this little fact of using customers' money for his own purposes (that's the fraud part! important! you didn't tell clients that you'll take their deposits as donations!). The dude is still in so much denial.

boomerango2• 4 years ago

All I could think as I read his statement:

“ Mr. Madison, what you’ve just said is one of the most insanely idiotic things I have ever heard. At no point in your rambling, incoherent response were you even close to anything that could be considered a rational thought. Everyone in this room is now dumber for having listened to it. I award you no points, and may God have mercy on your soul.”

gemmy• 4 years ago

I'm so tired of having to listen to and read SBF's lies. If Alameda made bad bets and blew themselves up, then Alameda should have been liquidated and that should have been the end of it. Sam acts like it's normal that one customer blowing up (Alameda) would take down FTX. Of course, that's not the case, since individuals and funds blow up every day trading with leverage without collapsing exchanges.

tananaev• 4 years ago

There's no way all he has left is $100k in his bank account. I bet he has a lot of money left and he's hiding it. Maybe he didn't expect the empire to collapse this quickly, but it's clear that he knew about many problems.

knorker3• 4 years ago

Here's a gem: While a multi billion dollar implosion is being investigated, potentially hundreds of years of jail time being handed out, millions of victims. Self-disappearing messages and basically no documentation, he just got caught admitting to co-mingling funds on tape, and getting dragged in front of congress, SBF is bothering the Chapter11 team to give him the password to his linkedin account.

You linkedin account? It's like the end of the (excellent) Scrubs episode "My Screwup": "Where do you think we are?".

One of us is not understanding the situation, and I don't think it's the grownups.

555552• 4 years ago

I also think it makes perfect sense for them to not give him the password to his Linkedin account. They don't want him to log in and delete his chats. Obviously Microsoft has backups, but it's just easier to ignore him.

knorker3• 4 years ago

Yeah. Imagine the risk that would be for them, if it caused evidence to be lost.

There's nothing to gain, and everything to lose. Even if there's minimal chance of anything being there, the mere perception that evidence could have been lost would be damning.

sgammon5• 4 years ago

CZ's message to Sam is downright fascinating.

sgammon5• 4 years ago

I wonder why he warned him and pulled back so hard on detail. I wonder why Sam pressed him to put it in writing.

SBF Written Testimony Notes 12/12/2022

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