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Notes -
I did think it would take a lot longer, which does give more credence to the speculation that Ellison was cutting a deal with the prosecutors by turning over everything she knew/had about Bankman-Fried. And if he was backing out of turning up to the Senate Banking Committee hearing (allegedly due to his counsel - whoever that is today EDIT: Cohen and Gresser of New York - refusing to accept service of the subpoena), then I imagine the gloves came off. All the shooting his mouth off didn't help, either. And I wonder about Wang and Singh, the other co-founders - are they cutting deals too?
If so, then there may well be enough evidence for charges this fast, and the Bahamian authorities are certainly being very co-operative. Did Bankman-Fried expect them to hold out longer and even give him refuge? If so, he made another bad decision there.
He does seem to have agreed to testify before the House Financial Services Committee (all these committees are confusing) but given that he's now been arrested, will that still go ahead?
It looks like he agreed to turn up to the Tuesday (House) committee but refused to testify before the Wednesday (Senate) committee, which may have stoked fears that he was only showing up so he could go on the run in the US and/or try to get out, which might have been easier than trying to fly out of the Bahamas. I have no idea, but the arrest might well be precautionary so he doesn't pull a "here today, gone tomorrow" stunt.
The Senate committee (via a letter sent to him) wanted a written statement from him, so that might be why he declined to appear: he's relying on showing up and burbling something at the House committee, because he seems to be good at slinging words words words in person, but if he writes anything down that's fatal, that is providing the rope to hang himself.
EDIT: While I'm waiting for the next matches in the World Cup (semi-final between Argentina and Croatia this evening, France versus Morocco tomorrow), there will be a livestream of the House Committee on Financial Services hearing today at 10:00 a.m. ET (3:00 p.m. my time) with John J. Ray as witness and potentially? Sam Bankman-Fried as well. I will have to tune in to see if he does turn up or if he can't make it due to being in the slammer 😁
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