Good Game

Sam Bankman-Fried Fraud and FTX collapse | EP 7

Nov 16, 2022

01:24:21

Creator website

Highlights

AI Chapters

Episode notes

The 2017 Bull Market Was Led by Tech Innovation

03:17

What's the Biggest Problem in Micro Strategy?

02:37

The MPC Technology Is in Line With What We're Talking About

01:41

Introduction

3min

The Alameda Pitch Deck - High Return, No Risk

4min

The Biggest Red Flag for FTX

3min

FTX's Assets and Liabilities

3min

Alameda and FTX - What Happened When Terra Collided?

3min

Alameda, FTX, and the Chain of Reaction

3min

How Much Do Crypto Funds Custody Their Assets on FTX?

2min

FTX - The Market Makers Get Hit the Most

2min

Do Regulators Understand the Difference Between DeFi and CFI?

3min

10.

Serum

3min

11.

Do VCs Really Do Due Diligence?

3min

12.

Alameda Fundraising

3min

13.

VCs Prefer Equity Over Tokens

3min

14.

Um, Um, the First Red Flag

5min

15.

What's the Right Time to Call Someone Out on Twitter?

2min

16.

Is There a Black Box in Cryptocurrency?

2min

17.

Is There Anything You Can Do Right Now?

2min

18.

Solana Is a Prisoner's Dilemma

4min

19.

Is FTX a Better Alternative Than the One We Live In?

2min

20.

The Biggest Elephant in the Room

4min

21.

The Proof of Reserve Is Not Sufficient, Right?

2min

22.

The MPC Technology Is in Line With What We're Talking About

2min

23.

Solana DeFi State Now?

2min

24.

Solana DeFi - The Only Leading Indicator

2min

25.

The ID X Is Out of the Question

2min

26.

The 2017 Bull Market Was Led by Tech Innovation

3min

27.

Cryptocurrency Market

2min

28.

Is FTX on the Table?

3min

29.

What's the Biggest Problem in Micro Strategy?

3min

30.

Linear Wealth Seekers Don't Leverage the Three Other

2min

31.

Is There a Decentralized Stable Point That I Can Trust?

5min

We have had founders, investors and contributors that have been affected by the FTX collapse.

In this episode Imran and Qiao discuss:

Early warning signs
Answer questions from community
Lessons learned
New path forward

Timestamps
(00:00) Intro
(01:25) The first to paid back were the decentralized protocols
(02:55) The rise of Alameda
(06:29) Launching Solana-based decentralized exchange Serum
(10:58) What were FTX's assets and liabilities?
(12:49) Crashing of 3AC got Alameda in a deep hole
(14:32) The $10B balance sheet hole breakdown
(18:16) Acquiring Voyager and Blockfi fill their hole
(20:19) $1B-$5B of crypto funds custodied on FTX
(22:44) 70% of all trading activity on FTX were institutions
(24:41) Do regulators understand the difference between DeFi and CeFi?
(27:28) Is Serum being forked?
(28:09) Why didn't VCs catch FTX through due diligence?
(32:36) Qiao explaining the leaked private group chat on Alameda
(35:20) Will Crypto VCs continue to prefer tokens over equity?
(37:45) What were people saying about Sam and FTX behind the scenes?
(47:00) If you're a Solana project, what do you do?
(53:00) Paradigm backing FTX was surprising?
(54:24) Healthiest approach to CEX regulation
(1:02:29) 12-week Digital dollar experiment launch
(1:03:37) Thoughts about the Solana DeFi state
(1:05:28) Who is the frontrunner for non kyc perps?
(1:07:28) What FTX collapse means for crypto outlook
(1:11:09) How bad is the contagion?
(1:15:45) Lessons learned

Qiao & Imran's stance on SBF prior to FTX collapse
Alliance tweet against SBF & DCCPA

Good Game Podcast: A podcast for crypto natives.
Find us at goodgamepod.xyz and follow us on Twitter @goodgamepodxy

DISCLAIMER: The views expressed herein are personal to the speaker(s) and do not necessarily reflect the views of any other person or entity. Discussions and answers to questions are intended as generalized, non-personalized information. Nothing herein should be construed or relied upon as investment, legal, tax, or other advice.