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#345 – Coffeezilla: SBF, FTX, Fraud, Scams, Fake Gurus, Money, Fame, and Power
Lex Fridman Podcast
What's the Eight Billion?
SBF argued that there was an accounting glitch error problem where when you'd send money to Alameda, even though they'd credit you on FTX, they wouldn't safeguard your deposits. He didn't realize that those were Alameda's funds or they were playing with those funds and that they basically should have safeguarded that for customers. It's preposterous because it's $8 billion. This is a guy who is sending around statements that like there was no risk involved. And you're telling me he had a error margin of $10 billion? That is the difference between like a healthy company and a company so deep underwater you're going to jail. So you have to believe that
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