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by dokein
1254 days ago
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U.S. GDP per person employed was about $100,000 dollars in 2021. FTX had depositors from many countries (and the vast majority have lower GDP per person employed). It's not clear how much is permanently lost, but even $1B (out of the $8B missing) of customer funds would be equivalent to more than 10,000 years of employed human labor. If the average employed person works 40 years, this would be 250 lifetimes [1] that was stolen by SBF and colleagues. I'm trying to imagine what a reasonable sentence would be and can't settle on anything besides life with no parole. [1] Life savings is only about $265K for the median person about to retire. So stealing $1B is stealing about 3,500 people worth of life savings. This is much worse: this is stealing the entire productive life of the person. Their 8 hours x 5 days a week x 50 weeks a year x 40 years of going into work day in and day out, time spent away from family, facing the grind, doing what they have to do to survive. |
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