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Comment by wellthatsawrap1 | Hacker News Reader

Hopefully with jail time

SBF was one of the biggest political donors to the party in govt. He seems to have done all the shady stuff with Alameda (and said it was arms-length). And whilst Alameda's CEO said multiple things that would have got you in trouble with regulated products (saying they had $10bn in secret assets, making a public offer to buy FTT to manipulate the price)...this is crypto.

I will make an exception to this: if they do not manage to make everyone whole or if there is public outrage that overwhelms his purchased politicians then it is over and multiple people will do time.

Hint: they're not making people whole, they don't have any assets with which to do so. That's why Binance ran the other direction.

Right, but if the choice is between SBF paying $5bn or going to jail for 30 years...then what? The facts aren't clear, but SBF has money outside FTX.

Even if the loss was manageable, I suspect that Binance never intended to do any deal. They had absolutely no incentive to do so.

SBF has allegedly already filed for bankruptcy

If and after cryptocurrency becomes deeply intertwined with the economy (like Banks), I wonder bailouts would be the norm besides relatively inconsequential jail times?

I wonder what's going on / will happen in countries where governments (or citizens en masse) have endorsed / adopted cryptocurrencies?

I personally hope that there will never be bailouts for crypto. Satoshi created Bitcoin out of the hate on Fed bailing out irresponsible banks and financial institutions. I don’t want the irony.

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