Recent comments in /f/nottheonion
S3IqOOq-N-S37IWS-Wd t1_j3lb7r5 wrote
Reply to comment by vasya349 in FTX attempting to recover millions donated to charities. by imhergod
Technically yes the revenues would be FTX's but things were commingled. That FTX dipped into customer funds when lending to Alameda means they didn't distinguish between their funds and customer funds. The new manager has made very clear that their accounting was a shitshow so I'm not sure you can clearly say what money was donated.
Even if they were in separate accounts, I'm sure other arguments can be made based on the liabilities created when lending out customer funds.
> Federal prosecutors and regulators allege that SBF, FTX, and its affiliates, which include defunct hedge fund Alameda Research, stole user funds and poured billions of dollars into risky bets that did not pan out.
vasya349 t1_j3lai3i wrote
Reply to comment by Shadefeaster in FTX attempting to recover millions donated to charities. by imhergod
He is not in jail for using customer funds for political donations. He’s in jail for loaning customer funds to his investment group. That’s why he’s being charged with securities fraud rather than theft. It also completely changes the legal dynamic on whose property the donations were.
vasya349 t1_j3la7w0 wrote
Reply to comment by S3IqOOq-N-S37IWS-Wd in FTX attempting to recover millions donated to charities. by imhergod
The big thing was Alameda made money from investing with FTX customer funds, meaning they could lose them if their investments went bust (and they did). But I don’t believe FTX revenues themselves (the source of the donations) were ever the property of others.
Shadefeaster t1_j3la2nw wrote
Reply to comment by vasya349 in FTX attempting to recover millions donated to charities. by imhergod
That's exactly what he did and it is the whole reason he's being tried for fraud as we speak. Dudes going to jail for a long time.
S3IqOOq-N-S37IWS-Wd t1_j3l9krh wrote
Reply to comment by vasya349 in FTX attempting to recover millions donated to charities. by imhergod
Isn't the whole thing that ftx accounting was all mangled and didn't separate customer funds from others?
vasya349 t1_j3l7sqf wrote
Reply to comment by lemonadepeachy in FTX attempting to recover millions donated to charities. by imhergod
The money wasn’t stolen. The vast majority of company revenue wasn’t derived fraudulently. It is alameda that benefitted, rather than FTX. An FTX without fraud would still have been able to make those donations.
vasya349 t1_j3l79vx wrote
Reply to comment by mjtwelve in FTX attempting to recover millions donated to charities. by imhergod
I don’t think anybody is alleging customer funds were used for donations?
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Reply to comment by [deleted] in Uganda: Father of 102 children from 12 wives quits family expansion due to inflation by nimobo
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[deleted] t1_j3l33mo wrote
Reply to comment by [deleted] in Uganda: Father of 102 children from 12 wives quits family expansion due to inflation by nimobo
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Theemuts t1_j3l2k1b wrote
Reply to comment by egregiouscodswallop in FTX attempting to recover millions donated to charities. by imhergod
I'm sorry you had to waste time and effort on that.
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Reply to comment by semtex94 in FTX attempting to recover millions donated to charities. by imhergod
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Reply to comment by [deleted] in Author Susan Meachen announces she's alive years after apparent suicide: We explain by atmoscience
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Reply to comment by PlotinusTheWise in Author Susan Meachen announces she's alive years after apparent suicide: We explain by atmoscience
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Reply to comment by [deleted] in Danish bank workers celebrate first full year without robberies by asteriskspace
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Reply to comment by Warpzit in Danish bank workers celebrate first full year without robberies by asteriskspace
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Reply to comment by [deleted] in Uganda: Father of 102 children from 12 wives quits family expansion due to inflation by nimobo
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[deleted] t1_j3kvtdy wrote
Reply to comment by momma3critters in Uganda: Father of 102 children from 12 wives quits family expansion due to inflation by nimobo
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insideoutcognito t1_j3krxtc wrote
Reply to comment by lemonadepeachy in FTX attempting to recover millions donated to charities. by imhergod
What if they already spent it?
zer0_n9ne t1_j3kqulp wrote
Reply to Uganda: Father of 102 children from 12 wives quits family expansion due to inflation by nimobo
Bro tryna start a soccer league 😭
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Reply to comment by [deleted] in FTX attempting to recover millions donated to charities. by imhergod
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[deleted] t1_j3kqi86 wrote
Reply to comment by lemonadepeachy in FTX attempting to recover millions donated to charities. by imhergod
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Reply to comment by [deleted] in Masters invitation goes to the wrong Scott Stallings by [deleted]
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[deleted] OP t1_j3kqd0z wrote
Reply to comment by MikeMontrealer in Masters invitation goes to the wrong Scott Stallings by [deleted]
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pickled_neggs t1_j3lc8uf wrote
Reply to comment by throwawaytrogsack in Uganda: Father of 102 children from 12 wives quits family expansion due to inflation by nimobo
“Holding the fabric of society together”
Lol.