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Why Big Tech's Jobs Bubble Burst. Plus, SBF's Scandal Deepens.
Plain English with Derek Thompson
CZ Gives the Weapons of Mass Destruction
CZ was an early investor in FTX and wanted to get the value out. In exchange for that equity stake, he got these $500 million worth of FTT tokens. He gave them to SPF who had been shit talking him while trying to raise money. CZ didn't even sell any; he just said he might sell it. And that was enough to spook everybody.
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