The Rise & Fall of Sam Bankman-Fried

It took exactly one year for Sam Bankman-Fried to transform from beloved billionaire entrepreneur to convicted felon. On Nov. 2, a New York jury found Bankman-Fried guilty on all seven counts he was charged with by the Department of Justice. TIME Tech Correspondent Andrew Chow watched the trial unfold from the courtroom and breaks down the case.
Read more about Bankman-Fried's trial: time.com/6330323/sbf-trial-bi...
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[@kevinhealey6540]

He made three very grave mistakes. 1) He thought that the gravy train would be endless. 2) When things started slowing down and things were going the other way, he started robbing from Peter to pay Paul. 3) He thought if anything happened he could simply explain it away by "Moving funds around is certainly not stealing."

[@user-no9rc7rv6f]

From 3 years of eating the world's most luxurious food and accommodation to prison food and cell for the rest of his life. This man is a legend

[@FreeCryptoClass]

He'll eventually get out after 20 years or so.

[@Urla..]

This was good. I feel we also need expose videos on "not a financial advice" KZbin influencers that shilled ftx and they should be brought to justice.

[@bradlucass]

Facts

[@MimaLopez-jt4vq]

Does anyone take seriously any advice from clickbait influencers?

[@MimaLopez-jt4vq]

I’m seriously disappointed in all the youtubers that shilled ftx, I’m retiring in 6 months and I have lost a lot this year. how can one enlist services of a trusted reputable registered trader/licensed advisor? I can’t find around me with adequate experience.

[@Urla..]

I've read that they are better equipped to look for opportunities in bear markets.

[@Vinyvasquez]

I don't know your full situation so my suggestion, research for those with reviews/testimonials they will love to talk to you. That’s how I found mine in 2021 that specializes in bear markets and we have made a lot of money off rallies enough to close my positions in deep waters.

[@ebeyslough]

Forbes and Times both praised this guy when many saw him as a scam. Now they make this rise and fall video as if no one else saw it coming

[@jackspring7709]

Exactly.

[@joeaverage3444]

It's the crappy businessman defense. Being a bad CEO is not a crime, because hey, you didn't know what you were doing. But as this court case was able to prove, he was doing those things with full intent.

[@manuelayala926]

Crazy how this kid threw it all away… He had a successful idea, a good business, but instead of being satisfied with the earning of the business he embezzled everyone’s money… He could have been a billionaire by just running FTX… Now he will be in jail his whole life…

[@DMalltheway]

He didn’t care and to make it worse he doesn’t take any blame for it.

[@elin111]

Kid was a con artist from day 1

[@venericanone]

Yeah I think you have a different idea of how things actually are. This guy knew what he was doing from the beginning. And he definitely did not have all those billions he claimed he did.

[@wallysciencebro]

Maybe it’s the speed of the shifting public perception or the fragility of trust and reputation in the digital age, but there’s something deeply unsettling about witnessing FTX’s journey from a widely respected, seemingly untouchable industry titan to a cautionary example of fraud and moral failure.

[@elin111]

Crypto in a nutshell. Everyone blindly jumped in when it seemed like free easy money for no work then now people are realizing it is little more than a scam factory

[@uptown710]

I’d agree with you, but there’s evidence that Sam had planned to flaunt the rules when he was creating FTX. Some of his investors who were there initially with Alameda were struck dumb when he told them that FTX would be staffed by the same people who were at Alameda. Obviously a huge red flag due to conflict of interest.

[@miguelvelez7221]

I mean... What will it take for certain types to get that Crypto is a ponzi scheme only a small number will ever really benefit from and everyone else are just marks? How much loss and embarrassment will "Crypto Dudes" put up with before admitting the Emperor has no clothes?

[@2ndFcRecon2006]

Congrats you made a vid that's been done 100 times already.

[@BigNix83]

He has been Fried.

[@ryanswild]

Get his parents in jail now!!!

[@cironsilver4410]

Absolutely, they are both complicit in his crimes.

[@TrollAlert-xv6qg]

@@cironsilver4410how do you know they haven’t been charged

[@OrganizedCrimeCT]

Dudes glasses looks like a filter

[@jackspring7709]

So tell us, TIME, this guy who you held up as a financial genius for so long, actually turned out not to be?

[@miguelvelez7221]

All I could find is that Fried was on the 2022 Time 100 list. Are you blaming Time or something? They aren't even a financial publication.

[@jackspring7709]

@@miguelvelez7221 Lol - TIME was touting him as a business genius. Don't worry about it, miguel. I'm not blaming them, just mocking them. Sorry for putting you through that.

[@FreeCryptoClass]

I watched the entire FTX movie and learned a lot. Thankfully I never invested a dime with that company. So many people got burned. I feel this company had bad intentions from the start.

[@nunyabizness573]

I think Time should do much better than 5-10 minute videos. That's not going to work for me and Time will be the last resort not the first.

[@charmcshane3517]

So, is he in jail, now? If not, why? Can anyone tell me?

[@alfie67]

Yes he is

[@nazz5556]

Isn't it anti-Semitic to send him to jail or even accuse him even if he's guilty. I'm sure it is.

[@danielrios8037]

Terrible audio... 😢

[@georgesotiriou7051]

You know what I don't care what the jury says. Michael Lewis says he's innocent and that has settled it for me. FREE SBF

[@drummerboy1390]

He’s not happy at not getting Vegan food. Maybe he thought a warder came around every day with a menu and a wine list. Once he’s sentenced and reality slaps him in the face, not getting Vegan food will be the least of his problems.

[@Hussleman1]

Why stay in the bahamas and not another country that doesnt have a extradition treaty with the U.S

[@smythharris2635]

Right side of history, wrong side of the law, ironic eh, Time?

[@JudgeCommitee-ck5wq]

Thank you Sam Bankman for the forgery proof permission ledger digital coins.

[@PaliAha]

One of the best summations Ive come across 🍉🍇🫐

[@yux.tn.3641]

for those of you who are new crypto, i recommend only using exchanges have been around for +5 years and survived 2 or 3 bear markets its safer

[@goodruler0285]

The Bankman is fried.

[@Pe6ek]

The world wants to be scammed.

[@Anonymous-iz8sc]

I lost $13000

[@vish6659]

How

[@yourfriendlyneighborhoodin1559]

John 3:16 16 “For God so loved the world, that he gave his only Son, that whoever believes in him should not perish but have eternal life. 17 For God did not send his Son into the world to condemn the world, but in order that the world might be saved through him. 18 Whoever believes in him is not condemned, but whoever does not believe is condemned already, because he has not believed in the name of the only Son of God. 19 And this is the judgment: the light has come into the world, and people loved the darkness rather than the light because their works were evil. 20 For everyone who does wicked things hates the light and does not come to the light, lest his works should be exposed. 21 But whoever does what is true comes to the light, so that it may be clearly seen that his works have been carried out in God.”

[@yourfriendlyneighborhoodin1559]

How do you get to hell? Very simple: claim that you're innocent. How do you get to heaven? Very simple: Admit that you're not Innocent, you're guilty and ask for mercy. How many lies have you told in your life? Have you ever taken anything that didn't belong to you? Have you ever used God's holy name to curse, would you do that with your mother's name? Jesus said: Matthew 5:28 *_"but I say to you that everyone who looks at a woman to lust for her has already committed adultery with her in his heart."_* Have you ever done that? ❤

[@phoenixzappa7366]

And yea he held up the magic sandal and the holy chamber pot and drank from it. Saying I am this sandal, all of you that smell from it shall have eternal poppadoms in the holy garden of Heaven Spongebob 22:15

[@yourfriendlyneighborhoodin1559]

@@phoenixzappa7366 I do not have the Blind Faith necessary to believe that "nothing created everything." A painting is proof of its painter, a building is proof of its builder, and creation is proof of the creator.

[@yourfriendlyneighborhoodin1559]

@@phoenixzappa7366 Where did the puppies, kittens, trees, flowers, fruits, sky, sun, and stars come from?

[@phoenixzappa7366]

​@@yourfriendlyneighborhoodin1559 From the holy poppadom. Question not the holy poppadom!

[@troth.]

SBF is the GOAT 🐐