One, SBF has lengthy had confidence in his persuasive capabilities. Following FTX’s collapse final November, SBF back-channeled with quite a few reporters to inform his facet of story, usually downplaying his data of what was occurring and – in a preview of his present protection – making out that he was extra out-of-his-depth than malevolent and calculating. He even began his personal Substack, going in opposition to the recommendation of quite a few legal professionals who cautioned in opposition to self-incrimination. And two: He has nothing to lose at this level. SBF could be very prone to be convicted on at the very least among the a number of counts of fraud he faces, and he’s very prone to go to jail. His finest likelihood of a lowered sentence, the pondering goes, is to make a case that he by no means meant to defraud.