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Comment by ttul | Hacker News Reader

Also covered on WSJ (https://www.wsj.com/articles/sam-bankman-fried-to-make-first...)

Notably, he is going to make a plea deal:

“Mr. Bankman-Fried at a later date will enter a plea on charges that he engaged in fraud and other offenses, the judge said.”

If he is doing a deal with prosecutors, you have to wonder what he is getting in return?

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> Notably, he is going to make a plea deal

That’s not what the article says. It says he will enter a plea later.

To enter a plea means to plead guilty or not guilty. All they are saying is that he hasn’t said either way yet.

Thanks for clarifying this important fact…

Gary Wang and Caroline Ellison did make a plea deal so that makes it seem like they are going to fully prosecute SBF. Any deal SBF makes will likely be to keep him from spending the rest of his life in prison.

It has been said elsewhere that he may be able to cooperate with forthcoming indictments of other players, such as CZ. So far though this is just speculation.

What is their to give up? CZ knows how to run an exchange and SBF doesn’t.

Also, it's fairly common for someone to initially plead "not guilty," even if they're planning to change their plea to "guilty" later. IIRC if you plead guilty, you can't change it later, so it's usually best to leave your options open.

Maybe he's gonna give up CZ and that house of cards.

If I was a prosecutor, I’d definitely be wanting 100% disclosure of all the dirty stuff he knows others are engaging in. For sure, CZ is probably regretting not having followed through with the purchase of FTX, which he could have then swept under the rug.

I doubt CZ would have been able to put up enough collateral to save FTX, even if he tried.

All the crypto exchanges are listing unregulated securities. There is no grand conspiracy to be discovered.

CZ is competent at running an exchange and SBF is a bitter con man.

From the little I know from tv shows the plea deal is that he hopes to get less of a sentence in return for pleading guilty to some stuff.

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