What do you expect when lending money to some fat-ass vegan with bad hair, the attitude of the ruler of the world, and little to less knowledge on how to do business as a billionaire and how to deal with the billions in his hands that weren't actually his?...

He clearly fucked up, he's done a lot of illegal shit and he's now in custody, probably being extradited soon to the US.

The Bahamas Attorney General, Sen. Ryan Pinder KC, has announced the arrest of former FTX CEO Sam Bankman-Fried (SBF). The Royal Bahamas Police Force arrested SBF after the US filed criminal charges against him, and likely requested his extradition.
source

And... Nothing...

Bitcoin didn't pump, but it didn't dump either... When the FTX collapse was announced Bitcoin dumped hard, it always does that when such events occur cuz there are plenty of plebs(financial institutions too) panic selling. Now nothing happened cuz there's not much overall movement in the market.

So, did anyone expect that SBF would go away with this shit? I personally didn't fall into that category and imo it is just a matter of time until Do Kwon gets to jail. It's already surfaced the fact that the Korean is hiding in Serbia and my guess is "they'll grab him soon", but looks like things rolled faster with SBF.

So, what did SBF actually do to be in this position?

The testimony of the new FTX CEO, John Ray III, is now public, and it includes some shocking revelations about the nature of the cryptocurrency firm. The court documents show that Alameda Research borrowed FTX customer funds for trading and investment purposes without any limits.

Ray’s testimony emphasizes what the CEO refers to as, “unacceptable management practices,” within the company. Moreover, the statement uncovers just how easily accessible customer assets were to FTX’s sister platform, Alameda Research.

SBF and the gang were pretty much gambling with customers' funds, it was stated soon after the FTX collapse that they were taking "complete custody" over people's funds and started playing with them right after they were making the deposits and this shit went smooth for a while, but once the bull market was over the domino pieces started to fall.

It is even being rumored that SBF might have played an important role in crashing LUNA. Congrats on that one, but you've dug your own grave motherfucker...

Sam Bankman-Fried "could be looking at life in prison" if convicted. You read that right, the vegan, bad looking philanthropist can risk a life sentence. Now, I don't wish anyone in prison, but let's think a bit about what this guy has been doing for two years or so and what the consequences of his deeds are.

He played with people's money, the Ontario pensions fund included, and he lost all that money, shit which had severe consequences on his clients, thus he kind of has to pay for his shit. I mean, he wasn't 16 when he's done that, he was a grown-up who should have had a sense of responsibility for what he was doing, but it seems he didn't have any and it's now probably time to go to jail.

I don't feel sorry for him, I don't have a reason to. We have to take into account also the fact that such events are "black balls" for crypto. Regulators will turn even more aggressively towards us and we don't like that, at least I don't... What about you, what do you think of all this mess?

Thanks for your attention,
Adrian