Jim Bianco & Mark Yusko: The Inside Story Behind FTX's Fall | Weekly Round Up
Supply Shock
00:00
The Legend of Alameda
SBF: I looked at these spreads and talks about this thing that used to exist called the Kimchi premium. It implied a strategy of arbitrage as opposed to going lever long on shit, right? And it provided an explanation for this is how I make my money, my cash, right? Because FTX and Sam were promising enormous amounts of money, right? SBF: He would hold court at the Palm Beach Country Club and he would sit in the corner like I am at a table for four. They took it out of your account and they blew it on something. There's a lot of money. They stole it.
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