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Bankman-Fried sentenced to 25 years for multi-billion dollar FTX fraud
(www.reuters.com)
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this post was submitted on 28 Mar 2024
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I don't know about that. He has a lot of rich donors giving him money. If he doesn't return on their investment, he is going to be in trouble.
No, you misunderstand. SBF took rich people's money and gave them nothing in return. Rich people are giving Trump money because they expect to be rewarded in the form of even less taxes, regulations, and more corrupt judicial appointments.
In other words, SBF stole from the oligarchs, but Trump is an investment (that has paid off once already).
Right, but will he give them that return this time? That's where he might be fucked. If he loses.
Sure but they know there's a chance he'll lose before they donate and while people investing in crypto also know there's a risk that risk is a lot different. It'd be more like if trump took the money and didn't even run for the presidency.
Exactly. It's why the rich all love gambling- when you have enough money to afford any experience you want, the only thing that brings you a thrill is the threat of losing that money.
Listen to the episode of Behind the Bastards about Lord Aspinall where Robert Evans goes into more detail about the rich's addiction to gambling.
A lot of those people are not expecting payback in the form of a direct check.
No, they expect him to pay them back with presidential power. And if he doesn't get that, they're going to come calling.
I imagine that a lot of these folks are also happy to pay for his influence over the Republican Party. And he doesn’t need to be in office to do that.