Sam Bankman-Fried tries to explain himself
It this real? Is he really THAT stupid? 
His defense against "you took user deposits and gambled the money" is "No, I took user deposits, loaned them to myself and then gambled the money".I mean this is like nested layers of stupidity. You'd be stupid to do this, you'd be stupid to think it's not a major crime, you'd be stupid to think that this was in any way acts as a defense of your crime and you'd be stupid to actually tell people that this is what you did thinking that it's a defense for the crime you committed.Guy literally though that Ponzi schemes would be legal if only the perpetrators on the way to court wrote on a document "I hereby lend myself all the money I misappropriated"?