Erik Voorhees, founder of ShapeShift, and Jordan Fish, aka Cobie, crypto investor and host of UpOnly, talk about the collapse of FTX.
Show highlights:
- the links between FTX and Alameda
- what kickstarted the blowup of FTX
- why Erik and Cobie think that Bankman-Fried's behavior was “sociopathic”
- why the $10 billion hole is so shocking to Cobie considering the advantages that FTX had as a company
- whether this would have ever happened if the prices hadn’t plummeted in the bear market
- the tension between advocates of privacy and those who want to limit criminal activity
- why Erik believes that SBF’s donations to both political parties are bribery
- whether regulators can prevent an exchange from collapsing
- whether Changpeng Zhao did a better job at investigating FTX than anyone at the SEC
- the likelihood that this will result in criminal charges
- how blockchain technology is the solution to the problem of centralized exchanges doing things in the dark
- Tether’s decision to freeze USDT owned by FTX
- Erik’s response to Bitcoin maximalists who say FTX was caused by altcoins
- whether it is a mistake for exchanges to issue their own tokens
- how big the contagion could be in the industry
- why nobody should leave a significant amount of their net worth in a centralized exchange
- Erik’s message to regulators
- whether SBF was aligned with the values and the ethos of crypto
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Erik:
Cobie:
Episode Links
Previous coverage of Unchained:
FTX Collapse:
Binance’s dropped deal with FTX
Crypto regulation
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