Refund Justice

The sentencing of SBF didn't come as a surprise to anyone following the case. Once the superstar boy of the Crypto World, he quickly saw himself ostracized following the revelations that led to the downfall of FTX cryptocurrency exchange. His sentencing did not stir up too many emotions though. Usually when the culprit of a wrong deed is punished there is a sense of satisfaction that arises from the mob. Justice after all has been served. We can't exactly say the same thing for SBF at this point. It's not like we don't want to see him get penalized for his actions, but we also want much more than that.

For the average investor in FTX, there is only one major concern and one way to compensate them - that's a refund of their investments. A few ambitious ones may add refunds with interest but the majority just want their money back. It matters not if SBF is rotting in jail if they still end up losing their funds. We can understand why the sentencing had to happen - to ensure justice and a possible repeat of such a deed, but perhaps the angle of how investors get their money back should also be explored. I think there'd be no better justice than that.

If we look towards the future the action may be a necessary one for the crypto space. Punishing bad actors is a way of serving notice that we cannot get away with whatever we want when others people's funds are involved. The authorities though only come after the big names. It is left to us in the space to go after the smaller and more numerous names who are trying to tarnish the good deeds of legitimate participants and value providers in the industry. On Hive we've definitely had an effective governance policy to try and kick out bad players. Many other projects will follow suite. Hopefully we manage to prevent a situation where one person pulls an SBF on us.