A specific prognosis of life expectancy ( i.e. , a serious and advanced illness with an end of life trajectory). (i) The defendant is suffering from a terminal illness ( i.e.
Provided the defendant meets the requirements of subdivision (2), extraordinary and compelling reasons exist under any of the circumstances set forth below: (iv) As determined by the Director of the Bureau of Prisons, there exists in the defendant’s case an extraordinary and compelling reason other than, or in combination with, the reasons described in subdivisions (i), (ii), and (iii).” īy redesignating Notes 1(B) and 2 as Notes 3 and 5, respectively, and inserting before Note 3 (as so redesignated) the following new Notes 1 and 2: (iii) The death or incapacitation of the defendant’s only family member capable of caring for the defendant’s minor child or minor children. (ii) The defendant is suffering from a permanent physical or medical condition, or is experiencing deteriorating physical or mental health because of the aging process, that substantially diminishes the ability of the defendant to provide self-care within the environment of a correctional facility and for which conventional treatment promises no substantial improvement. (i) The defendant is suffering from a terminal illness. Provided the defendant meets the requirements of subdivision (2), extraordinary and compelling reasons exist under any of the following circumstances: “(A) Extraordinary and Compelling Reasons. The Commentary to §1B1.13 captioned “Application Notes” is amended in Note 1 by striking the heading as follows: “ Application of Subdivision (1)(A). SBF hit back at Su Zhu, the co-founder of bankrupt hedge fund Three Arrows Capital earlier on Friday, advising him to “focus on your own house.Amendment: Section 1B1.13 is amended in the heading by striking “as a Result of Motion by Director of Bureau of Prisons” and inserting “Under 18 U.S.C. “Hopefully, the events surrounding FTX will demonstrate that the actions of a company don’t reflect the ethos and commitment of an entire industry.”Įlsewhere, Bankman-Fried, colloquially known as SBF, is the subject of a number of investigations by the Justice Department and the Securities and Exchange Commission. Tether has been around since 2014 and despite being the subject of enormous scrutiny, has withstood multiple black swan events, honoring all customer redemptions for the entirety of the company’s existence. “I have made a number of mistakes over the past year but this is not one of them,” he added.Ī spokeswoman for Tether told MarketWatch: “Once again Tether has demonstrated its resilience to attacks. “Put on a suit, and go back to D.C, and start to answer questions.”Ī spokeswoman for Binance did not immediately respond to MarketWatch.īankman-Fried did not immediately respond to MarketWatch’s request for comment, but told the New York Times: “Trades of that size would not make a material impact on Tether’s pricing, and to my knowledge neither myself nor Alameda has ever attempted to intentionally depeg Tether or any other stablecoins.” “My honest advice: stop doing everything,” Zhao concluded. Zhao said while a $250,000 trade wouldn’t depeg the stablecoin, it could cause problems. “Are you claiming that you think that $250k of USDT
He said that Alameda made a $250,000 trade to destabilize Tether.īankman-Fried responded with seeming confusion, “Huh? What am I doing to stablecoins?” The texts also show Zhao accusing Bankman-Fried of using his hedge fund to drive down the price of stablecoin Tether, which is pegged at $1. “The more damage you do now, the more jail time,” Zhao told Bankman-Fried on encrypted messaging app Signal.Įarlier that week, Zhao had agreed to buy FTX assets, before later backing out of the deal. Sam Bankman-Fried recently claimed to Bloomberg that he “misaccounted” the $8 billion hole in FTX’s balance sheet and the money was counted twice. “Stop now, don’t cause more damage”, he told the disgraced FTX founder, referring to trades FTX and its hedge fund offshoot Alameda were making, which had just caused customers seeking to redeem around $5 billion in deposits, which FTX didn’t have.
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