Against the Rules with Michael Lewis
Judging Sam: An FTX Victim Speaks Out
Oct 24, 2023
Jake Thacker, a tech worker from Portland, shares his harrowing experience with the FTX collapse, revealing how he borrowed money to invest and lost it all. He discusses the initial thrill of cryptocurrency trading and the shock of the platform's failure, leaving him facing bankruptcy and uncertainty about his home. Thacker highlights the emotional turmoil of financial fraud victims and questions the justice system's ability to bring true reparations. His story sheds light on the human cost of crypto investment gone wrong.
20:33
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Quick takeaways
- FTX collapse led to financial ruin for investors, resulting in bankruptcy and loss of personal assets.
- Lack of accountability and restitution for victims in criminal case against Sam Bankman-Fried.
Deep dives
Investing in Crypto and Choosing FTX as a Cryptocurrency Exchange
The interviewee shares that he initially dabbled in crypto as a hobby, but eventually saw the potential for larger gains. He chose FTX as a cryptocurrency exchange due to its lower transaction fees compared to other platforms like Coinbase or Binance.
