Today, Explained Crypto’s crown prince in court
Oct 3, 2023
Zeke Faux, an investigative reporter at Bloomberg and author of "Number Go Up," dives into the courtroom drama unfolding around Sam Bankman-Fried, the founder of FTX. With insights from his two-year chronicling of Bankman-Fried's rise and fall, Faux outlines the serious fraud allegations and their implications for the crypto industry. He discusses the emotional testimonies from former associates, the legal consequences that loom over Bankman-Fried, and the eroded trust in cryptocurrency following FTX’s spectacular collapse.
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Episode notes
Dogecoin Anecdote
- Zeke Faux's friend made a substantial profit from Dogecoin, showcasing the unpredictable nature of crypto.
- This Dogecoin investment funded a trip to Disney, highlighting the potential, albeit risky, gains in the crypto market.
Super Bowl Crypto Ads
- The 2021 Super Bowl's crypto ads implied that not investing in crypto made one a loser.
- This pervasive marketing contributed to the feeling that traditional financial logic was distorted.
SBF's Unlikely Success
- Despite his unconventional appearance, Sam Bankman-Fried (SBF) attracted significant investments.
- SBF's disregard for traditional institutions like Wall Street and Washington, D.C. ironically made him popular within those circles.
