The Importance of Collateral and Counterparty Risk in Crypto

The Block's Weekend Editor Zack Abrams has been covering Sam Bankman-Fried's criminal trial live from the courtroom in New York.

In this episode, Abrams provides a first hand account of what he has witnessed and explains why he thinks SBF's case is more complicated than the general public seems to believe.

Zack's ongoing coverage of the trial can be found here.

OUTLINE:

00:00 Introduction

04:32 Fraud or Failure?

10:23 SBF’s Defense

11:39 Crux of the Case

16:27 Alameda’s Backdoor

19:24 Campaign Funding Violations

20:47 Caroline Ellison

26:56 Collateral Risk

28:34 Total Fraud?

32:54 Effective Altruism