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FTX and Alameda Executives Plead Guilty to Fraud Allegations: The Community Responds

FTX and Alameda Executives Plead Guilty to Fraud Allegations: The Community Responds

#FTX #Alameda #Executives #Plead #Guilty #Fraud #Allegations #Community #Responds Welcome to InNewCL, here is the new story we have for you today:

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In the latest update to the FTX saga, former Alameda Research CEO Caroline Ellison and former FTX co-founder Gary Wang have pleaded guilty to fraud allegations and are currently helping to investigate former FTX CEO Sam Bankman-Fried. When the news broke, members of the crypto community shared their thoughts on the new development.

From asking where client funds went and deriding Ellison’s trading skills to how much inside trading information executives gave shark tank star Kevin O’Leary, members of the crypto community tweeted mixed reactions the executives who pleaded guilty and turned on Bankman-Fried.

SBF after prison

— Tiffany Fong (@TiffanyFong_) December 22, 2022

In response to the story, community members asked important questions. A Twitter user highlighted an urgent question: where is the customers’ money? The community member also asked if the confession will solve this issue or if the money is already gone.

On the other hand another Twitter user drawn Kevin O’Leary joins the conversation. The user asked how much insider trading information was given to O’Leary regarding the pumped and dumped assets. According to the community member, they don’t think of Bankman-Fried as “the big fish,” but simply “a perch swimming in the ocean.”

Meanwhile, another member of the community brought up the recent alleged sightings of Ellison in New York. The Twitter user pointed out that people who saw Ellison’s photos in New York should know that the executive branch came to the United States under protection.

Possible sighting of Caroline Ellison: Twitter

While others raise serious questions, some took the opportunity to add some humor to the subject. A Twitter user poked fun at Ellison’s trading skills, saying it was the first time the former Alameda CEO had used a stop-loss feature.

So…for the first time ever, she uses a “stop loss”

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

Internet detective Stephen Findeisen, better known as Coffeezilla, said that it was game over for Bankman-Fried. Additionally, Findeisen pointed out that Bankman-Fried are partners despite being separated found a way to “fuck him one last time.”

Also Read: Alameda’s Caroline Ellison and FTX’s Gary Wang have faced additional cheating allegations

Despite all of this, one community member couldn’t help but be cynical about the new development. According to the Twitter user, “nothing serious is going to happen.” The user is convinced that this whole issue will also go away like the exploding ocean pipelines, the Las Vegas shootings and Jeffrey Epstein’s island stories.

Meanwhile, Ellison, who is a key witness in the FTX investigation, avoided a possible 110 years in prison through a plea deal with the United States Attorney’s Office for the Southern District of New York. This leaves the former CEO of Alameda Research prosecuted only for tax violations and could be released immediately on bail of $250,000.

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