SBF Arrest: A Big Conspiracy?
Conspiracy or not there have been reports that the Feds have arrested Sam Bankman-Fried in The Bahamas after criminal charges were filed against him in the United States which include securities fraud, wire fraud and money laundering. But what’s more surprising is that it's just hours before he’s said to testify in court and answer some pending questions that are needed to be answered in front of Congress.
What’s also surprising for the arrest is that if Sam Bankman-Fried were to testify in court it would have given the Feds more insight or clarification that would help or assist them in their investigation, so why the arrest now? Well, this is the answer Crypto Twitter wants because they are very angry and upset about the arrest.
However, there are speculations ongoing that the arrest was planned and well timed because they believe SBF has deep roots in politics and the arrest was to prevent information from getting out and to also prevent him from any form of embarrassment that is likely to occur during the hearing. This argument is on the table because some people don’t believe he’s a political donor because of the latest summons to the House of Financial Services Committee by Rep. Maxine Waters.
That aside, there’s also another fact that Rep. waters and some other politicians are upset or somewhat disappointed with the fact that SBF couldn’t appear in court to hear his testimony which was cancelled due to his arrest because everyone wants answers to what went wrong on FTX and they all want who to blame for the cause.
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If you dig deep enough, everything is a conspiracy. There have been a few conspiracies around FTX, one being that it was used to launder money and political donations. All of this has been proven to be false.
As exciting as it would be to uncover FTX was being used as a pawn in some government cover-up, choosing a platform that uses an immutable blockchain probably isn't the smartest idea. The whole existence of blockchains is to prevent tampering with transactions, and the technology can now forensically trace them (the CIA and other organisations use this technology already). I believe Amazon offers a crypto forensic tool.
Sam Bankman-Fried might not be alone in his fraud, but I somehow doubt he is an innocent patsy in all of this. This guy claims to not know anything despite being in charge and setting up many of these structures, pleading ignorance that he should have known but didn't.
The reason that he was arrested so quickly is that there is most likely a trove of evidence against him. That's the beautiful thing about blockchains. They store everything. You can't shred a blockchain or shut it down. Everything is there waiting to be uncovered and traced. It is rumoured that former Alameda CEO Caroline Ellison has turned against SBF, especially after he threw her under a bus in an interview in November. This is compounded by the fact that she has been spotted in New York at a coffee shop, not in Hong Kong.
We keep hearing about FTX being one of the top donors to the DNC and how SBF and his accomplices won't see jail, but the fact he is currently being extradited in an indictment brought against him proves otherwise. He will be charged. How lenient the courts go on him depends on how strong the evidence is.
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