Sam Bankman Fried was convicted yesterday on all 7 charges in this current lawsuit. I've been following the case for entertainment purposes. It blows my mind that this dude was able to scam so many people. What is even crazier is how many celebs and investment "experts" like Mr. Wonderful where taken in by him. I'm not going to bore you with a list of the people that were impressed by him but it includes people from former presidents to athletes.
I remember the first time I heard him speak. I was kinda blown away that this was the dude behind FTX. The dude so many people were fawning over. To me it was obvious he was a scammer. I was not alone in that thinking. Many bitcoiners were saying the same thing at the time. At this point I should be accustomed to this happening but it still blows me away.
One of my favorite things about bitcoin's move into mainstream finance is watching "experts" expose their arrogance, ignorance, and stupidity for all to see. It happens over and over again. This will continue and I love every minute of it. It becomes so obvious that they didn't even do 3 hours of research on bitcoin. It makes me wonder. What else are they frauds about? What other things are they just faking?
What's the take away? Don't trust. Verify. Do your own research. Do not trust the experts. They may not be wrong but you can't trust them.