[arkis22]

>FTX added that a jump in crypto prices since the company failed had not given its finances a major boost. It said almost all of the Bitcoin and other digital currencies believed to have been held by the exchange at the time of its collapse were missing.

>The price of the biggest cryptocurrency, Bitcoin, has risen by around 270% since the firm filed for bankruptcy more than a year and a half ago.

the problem with your logic is that it misunderstands what theft is because you are looking nominal value instead of opportunity cost. he took peoples money, he gambled it, and theyre generally going to get back a little more than the nominal value of their claims.

[dotcoma]

I am not saying what they did was right, nor that is was wise. It was wrong and it was dumb, and they gambled a company in theory worth $ 40 B, at least according to some geniuses at VC funds, and his reputation and freedom.

But the goal was not to steal money; had the goal been to steal money, they would have been successful in doing so. The goal was to gamble it with their hedge fund and use the profits for causes they deemed right.

Again, this does not make his mistakes lighter.

Lastly, people who deposited their hard earned money in an account owned by Alameda Research, SBF’s hedge fund, in order to have it available on FTX (yes, this was the standard procedure) are imho also partly to blame for the mess.