If they could afford to hire an on-staff performance coach, they probably could and should have hired an on-staff accountant to manage literally billions of dollars rather than having the CEO put things in a spreadsheet.
I don't think he intentionally lost peoples' money, but I think he was intentionally reckless and for that reason he should be prosecuted.
How do you suppose they took a directional bet, with customer funds, and lost, unintentionally?
SBF's claim is that FTX customers sent money to Alameda and nobody remembered to categorize it as FTX client money.
This is about as believable as my 11yo saying he didn't realize he had to pay for the $50 worth of Pokemon cards he took from Wawa. (This was after he originally claimed the cards were a gift from a friend at camp -- a friend whom he could neither name nor describe to us.)
I’m still trying to understand why investors would entrust their money with them. Why did the press fawn all over him? He talked a big game, but so have literally hundreds of others!