FTX, Alameda execs plead guilty to fraud charges: Community responds

In the newest update to the FTX saga, erstwhile Alameda Research CEO Caroline Ellison and erstwhile FTX co-founder Gary Wang plead blameworthy to fraud charges and are presently helping with the probe of erstwhile FTX CEO Sam Bankman-Fried. As the quality broke, crypto assemblage members shared their thoughts connected the caller development. 

From wondering wherever lawsuit funds went and ridiculing Ellison’s trading skills to wondering however overmuch insider trading accusation the executives gave to Shark Tank prima Kevin O’Leary, members of the crypto assemblage tweeted assorted reactions to the executives pleading blameworthy and turning connected Bankman-Fried.

post-jail SBF pic.twitter.com/2ZEDl7RshG

— Tiffany Fong (@TiffanyFong_) December 22, 2022

Responding to the story, assemblage members raised important questions. One Twitter idiosyncratic highlighted an urgent inquiry: wherever is the customers’ money? The assemblage subordinate besides asked if the confession volition lick this occupation oregon if the wealth is already gone. 

On the different hand, different Twitter idiosyncratic dragged Kevin O’Leary into the conversation. The idiosyncratic asked however overmuch insider trading accusation was fixed to O'Leary successful presumption of assets being pumped and dumped. According to the assemblage member, they don't deliberation that Bankman-Fried is “the large fish” but alternatively simply a "bass swimming successful the ocean."

Meanwhile, different subordinate of the assemblage brought up the recent alleged sightings of Ellison successful New York. The Twitter idiosyncratic pointed retired that radical who saw the photos of Ellison successful New York indispensable cognize that the enforcement came to the United States nether protection.

Potential Caroline Ellison sighting: Twitter

While others are raising superior questions, immoderate took the accidental to adhd immoderate wit to the issue. One Twitter idiosyncratic ridiculed Ellison’s trading skills and said that it was the erstwhile Alameda CEO’s archetypal clip utilizing a stop-loss function. 

So…For the archetypal clip ever, she’s utilizing a “stop-loss”

— Caroline.Jea (@CarolineJP11) December 22, 2022

Internet detective Stephen Findeisen, much commonly known arsenic Coffeezilla, said that it was “game over” for Bankman-Fried. Additionally, Findeisen pointed retired that adjacent though they are apart, Bankman-Fried’s partners found a mode to “screw him 1 past time.”

Related: Alameda's Caroline Ellison and FTX's Gary Wang deed with further fraud charges

Despite each thi, a assemblage subordinate couldn’t assistance but beryllium cynical astir the caller development. According to the Twitter user, “nothing superior volition happen.” The idiosyncratic is convinced that this full contented excessively volition vanish similar the water pipelines exploding, the Las Vegas shootings and Jeffrey Epstein’s land stories.

Meanwhile, Ellison, who is simply a cardinal witnesser successful the FTX investigation, avoided a imaginable 110 years successful jail done a plea woody with the Office of the United States Attorney for the Southern District of New York. Through this, the erstwhile Alameda Research CEO volition lone beryllium prosecuted for taxation violations and could beryllium instantly released by paying $250,000 successful bail.