SBF的判决可以带来什么?我们应该吸取什么教训

币圈资讯 阅读:40 2024-04-22 02:44:00 评论:0
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作者:David Z. Morris 来源:unchainedcrypto 翻译:善欧巴,比特币买卖交易网

3月28日星期四将标志着 21 世纪最奇怪的故事之一的谢幕:斯坦福大学两位法学学者的儿子利用技术乐观主义和精英慈善的名义,系统性窃取了 80 亿美元资金,但其真实目的却是尽可能快地积累权力。

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在纽约南区美国地方法院接受刑事审判前在法院外。

这就是SBF的基本故事,他将在 3 月 28 日因陪审团去年 11 月作出的七项欺诈相关罪名被判刑。他的判决还将基于未经审判但证据充分的指控,即他利用窃取的客户资金贿赂中国官员并资助一系列竞选财务欺诈活动,这些活动一度使SBF成为美国政坛一股不可忽视的力量。

联邦检察官于 3 月 15 日提交给刘易斯·卡普兰法官的量刑建议书,可能以迄今为止最简洁、最令人信服的形式讲述了这个故事。检察官通过细致地确定SBF反复故意欺骗的行为,并辅以一系列令人心碎的受害者陈述,建议判处SBF 40-50 年监禁。这已经是一段很长的刑期 – 但仍然远低于可能的 100 多年的刑期。

给投资者一个“恩惠”

SBF的辩护团队请求宽大处理,主张仅判处六年徒刑。这一要求在很大程度上依赖于两个在审判中被证明无效的论点:SBF从未真正偷过任何钱,而且他向慈善机构捐赠了很多钱。第一个论点很大程度上基于一种误导性的观点,即 FTX 破产财产已“全额偿还储户”,这是一个真正具有欺骗性的想法,FTX 复苏首席执行官John Ray III 已在自己的简报中强烈反驳。

事实上,FTX 存款最终会被偿还的想法与 SBF 的犯罪动机相呼应。尽管他和迈克尔·刘易斯等盟友试图将他描述为不幸的人,但自 2022 年 12 月被捕以来,SBF显然相信他可以用别人的钱赌博并获胜。正如 Caroline Ellison 作证的那样,SBF 将 FTX 客户资金视为推动交易所发展的 “良好资金来源” ,尽管他一再公开声称存款是神圣不可侵犯的。

SBF认为他是在帮储户和投资者一个忙,尽快推动 FTX 的“预期价值”最大化——之后他就可以偿还所有存款。在他看来,他并不是偷窃,而只是借用。即使在他被定罪后,斯坦福大学的乔恩·多诺霍和耶鲁大学的伊恩·艾尔斯等盟友也提出了基本相同的论点。这是他的辩护团队的再次发言。

卡普兰法官已经表达了他对这种道德沦丧的彻底蔑视。卡普兰在 2023 年 10 月 11 日的审判中打趣道:“这就像说,如果我闯入联邦储备银行,偷走 100 万美元,把所有钱都花在强力球彩票上,并且碰巧赢了,那也没关系。”

同样,依靠SBF的慈善工作作为良好品格证据的一个不便之处在于,正如审判所证实的那样,捐款本身主要来自被盗的客户资金。虽然辩方的宽大处理方案包括一系列支持 SBF 的品格证人陈述,但这些陈述是有限的,有时甚至很奇怪,其中包括许多只认识SBF小时候的人的陈述,以及来自SBF的一名涉嫌恋童癖者的陈述。似乎在监狱里成为了朋友。

去年我花了一个月的时间观察SBF的刑事审判。我一次又一次地看到刘易斯·卡普兰法官对SBF辩护团队的这种误导性和不诚实的辩护做出不屑一顾,甚至愤怒的反应。他也不会第二次支持他们:我相信卡普兰法官非常非常有可能遵循检方的建议,判处SBF大约半个世纪的监禁。 

考虑到这些事情的运作方式,除非上诉不太可能成功,这意味着SBF将在监狱里呆到六十多岁。

SBF的垮台并不能净化加密货币的罪恶

人们经常说,SBF的罪行与加密货币作为一种技术没有什么关系,这确实是事实。SBF 的华尔街背景与 2022 年崩盘的许多其他犯罪分子的背景相似,他大多认为加密货币是一种简单的赚钱方式,因为它的波动性。他的欺诈行为依靠中心化和不透明来欺骗客户——如果有的话,这是对链上金融运作方式的颠倒。

尽管如此,他确实选择了在加密行业进行长期骗局,他的判决是行业反思的时候,也许可以学到一两件事。

最重要的是,不要陷入自满情绪,这一点至关重要。检方量刑包中包含的文件中,有一份由SBF (SBF) 撰写的一份真正精神错乱的清单,列出了他在 FTX 倒闭后可以重新构建自己的罪行的方法。其中包括“SBF 为你的罪孽而死”的拟议叙述。

尽管没有欺诈证据,Blast 项目的困境仍然让人联想到 SBF 的遭遇。该项目仓促上线和以收益为中心的营销方式都带有同样的那种追求最大化的冲动,这种冲动最终将 SBF 引向了犯罪、贫困,现在则是监狱。随着贪婪再次凌驾于作为加密货币运动基础的更深层次的社会和政治改革的关注之上,我们将看到又一轮的脆弱性、风险、欺诈和崩盘。聪明的人会一眼看穿那些“原生收益”、“双倍质押奖励”或“20% APR”的承诺,并认清它们的本质:巨大的、闪烁的警示信号。

忽视警告和冒险冒进是导致 SBF 垮台的根本原因。他无视其副手卡罗琳·埃里森 (Caroline Ellison)、尼沙德·辛格 (Nishad Singh) 和王 Gary Wang 的反复反对,他们现在都将面临自己的判决。SBF 确信自己比任何人都聪明,他无视律师的建议,认为他们“不知道自己在说什么”,拒绝在 FTX 崩盘后进行全面的公关之旅。那些采访帮助检方限制了他的辩护团队并确保了他的定罪。

行业教训以及人生教训

驱使SBF实施鲁莽计划的世界观同样建立在巨大的自我之上。这归结为他对自己绝对正确的信念,以及对他认为“普通人”应该遵守的道德标准的轻视。埃里森在庭审中作证说,SBF 不认为“不要撒谎”或“不要偷窃”等规则适用于他选择的道德准则。他的道德准则混合了他母亲的功利主义结果论;同样功利主义的“赚了钱再去捐赠”的有效利他主义运动的宣传;以及他在 Jane Street 做交易员时学会的无休止的“预期价值”计算。

看到一个本可以为世界做出真正贡献的人,却因几乎终其一生被关押而悔恨,我们可以从中吸取许多教训。但一些要点似乎特别清晰。

首先,谨慎和谦逊并不是罪恶。无论是作为创始人还是交易员,风险管理都是实现可持续成功的一部分。

其次,道德很重要——不是未来可能会发生什么的道德,而是你现在如何对待他人的道德。

最后,贪婪很危险。虽然加密资产升值时可以享受,但过于关注数字的增长而不是基本面,才是通往贫困的最快捷径。

或者会更糟。


Thursday, March will mark the curtain call of one of the strangest stories of the century. The sons of two legal scholars at Stanford University systematically stole hundreds of millions of dollars in the name of technical optimism and elite charity, but their real purpose is to accumulate power as soon as possible before being tried in the U.S. District Court for the Southern District of new york. This is the basic story. He will be charged with seven fraud-related crimes committed by the jury last month on May. His sentence will also be based on the untried but well-documented charge that he used stolen client funds to bribe China officials and finance a series of campaign financial fraud activities, which once made him a force to be reckoned with in American politics. The sentencing proposal submitted by the federal prosecutor to Judge Lewis Kaplan on May may tell the story in the most concise and convincing form so far. The prosecutor carefully determined the repeated intentional deception and supplemented it with a series of orders. The heartbreaking victim's statement suggested that he should be sentenced to years in prison, which is already a long prison term, but still far below the possible years in prison. The defense team that gave investors a favor asked for leniency and advocated that he should be sentenced to only six years in prison. This requirement largely relied on two arguments that were proved invalid in the trial, and he never really stole any money, and he donated a lot of money to charity. The first argument was largely based on a misleading view that the bankrupt property had been fully repaid to depositors. This is a really deceptive idea. The CEO of Recovery has strongly refuted in his briefing that the idea that the deposit will eventually be repaid echoes the criminal motive. Although he and his allies such as Michael Lewis tried to describe him as an unfortunate person, they obviously believed that he could gamble with other people's money and win, as testified, and regarded the client's funds as a good source of funds to promote the development of the exchange, despite his repeated public claims that deposits were sacred and inviolable. Some people think that he is helping depositors and investors to maximize the expected value as soon as possible, and then he can repay all the deposits. In his view, he is not stealing, but just borrowing. Even after his conviction, Jon Donohue of Stanford University and Ian Ayers of Yale University and other allies have put forward basically the same argument, which is the speech of his defense team again. Judge Kaplan has expressed his complete contempt for this moral decay. Kaplan joked at the trial on May. For example, if I break into the Federal Reserve Bank and steal $10,000 and spend all my money on power ball and happen to win, it doesn't matter. One of the inconveniences of relying on charitable work as evidence of good character is that, as proved by the trial, the donation itself mainly comes from stolen client funds. Although the leniency plan of the defense includes a series of supported character witness statements, these statements are limited and sometimes even strange, including statements of many people who only knew each other as children. And a statement from a suspected pedophile seems to have become friends in prison. Last year, I spent a month observing the criminal trial. I saw again and again that Judge Lewis Kaplan made a dismissive or even angry reaction to the misleading and dishonest defense of the defense team, and he would not support them for the second time. I believe that Judge Kaplan is very, very likely to follow the prosecution's suggestion and sentence him to imprisonment for about half a century, unless considering the way these things work. The appeal is unlikely to succeed, which means that the collapse of cryptocurrency will not purify the evil of cryptocurrency. The crime that people often say has nothing to do with cryptocurrency as a technology. This is indeed true. The background of Wall Street is similar to that of many other criminals who collapsed in 2000. Most of them think that cryptocurrency is a simple way to make money because of its volatility. His fraudulent behavior relies on centralization and opacity to deceive customers, if any, which is on the chain finance. Nevertheless, he did choose to engage in long-term fraud in the encryption industry. His judgment is a reflection of the industry, and maybe he can learn one or two things. The most important thing is not to get complacent. This is very important. Among the documents contained in the prosecution's sentencing package, there is a list of real insanity written by him, which lists the ways in which he can reconstruct his crimes after bankruptcy, including the proposed narrative of dying for your sins, even though there is no evidence of fraud. Still reminiscent of the experience that the project was hastily launched and the revenue-centered marketing method all have the same impulse to pursue maximization, which will eventually lead to crime, poverty and now prison. With greed, we will once again override the concern of deeper social and political reforms as the basis of cryptocurrency movement, and we will see another round of vulnerability, risk fraud and collapse. Smart people will see through the rewards or promises of double pledge of primary income at a glance and recognize them. Ignoring warnings and taking risks is the root cause of the collapse. He ignored the repeated objections of his deputies Caroline Ellison NisshadSingh and Wang, who will now face their own judgments, convinced that they are smarter than anyone else. He ignored the lawyer's advice and thought that they didn't know what they were talking about and refused to conduct a comprehensive public relations trip after the collapse. Those interviews helped the prosecution limit his defense team and ensure his conviction, industry lessons and life lessons. The world outlook that drives the reckless plan is also based on a huge ego, which comes down to his belief in his absolute correctness and his contempt for the moral standards that ordinary people should abide by. Ellison testified in court that he believed that rules such as don't lie or steal were applicable to the moral standards he chose. His moral standards mixed his mother's utilitarian results theory, the same utilitarian propaganda of the effective altruism movement that earned money and then donated it, and when he was a trader. The society's endless calculation of expected value sees a person who could have made a real contribution to the world but regrets being imprisoned for almost his whole life. We can learn many lessons from it, but some key points seem particularly clear. First, caution and humility are not evil. Risk management is a part of achieving sustainable success, whether as a founder or a trader. Secondly, morality is very important, not what may happen in the future, but how you treat others' morality now. Finally, greed is dangerous. Although encrypted assets can be enjoyed when they appreciate, paying too much attention to digital growth rather than fundamentals is the way to poverty. 比特币今日价格行情网_okx交易所app_永续合约_比特币怎么买卖交易_虚拟币交易所平台

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