Jim Bianco & Mark Yusko: The Inside Story Behind FTX's Fall | Weekly Round Up
Supply Shock
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CZ's Plan to Bury FTX
I think this was a story of like ego gone awry. This was an Icarus like flying too close to the sun. I've had a suspicion about Sam for a long time going back to the odd lots podcast in the spring when he called DeFi basically a Ponzi scheme and a scam. So at the first sign of trouble, I think the industry was ready to cut and run from this guy. The money wasn't there to meet the withdrawals. And that's why they wound up having to close doors. By the way, we saw this with MF Corzine 10 years ago. He opened the doors to hell and everybody ran.
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