5min chapter

Dwarkesh Podcast cover image

Byrne Hobart - FTX, Drugs, Twitter, Taiwan, & Monasticism

Dwarkesh Podcast

CHAPTER

The Story of Alameda FTX

FTX cut some corners when they were raising money and that they had really bad internal accounting. The extended entity of Alameda FTX sort of lost track of whose money was where and ended up it ended up with Alameda spending FTX customer money. I suspect the fraud actually happened pretty late you know if it happened which there's like 80 90% chance that there was some level of fraud versus pure incompetence.

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