Unchained The Chopping Block on FTX/Alameda: Is Sam Bankman-Fried 'Crypto Kanye'? - Ep. 424
Nov 22, 2022
The podcast dives into the chaotic aftermath of FTX's collapse, revealing shocking mismanagement and potential criminal implications for Sam Bankman-Fried. Experts speculate on whether the Bahamian government may have been involved in the hacking. They also discuss the possible separation of FTX and Alameda's assets and the precarious future of Genesis Capital. The dialogue critiques media portrayals and regulatory responses, shedding light on the broader implications for centralized finance versus decentralized solutions.
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Unprecedented Failure
- FTX's collapse stemmed from a total lack of corporate controls and unreliable financial information.
- The situation is unprecedented, according to John Ray, FTX's new CEO.
Special Treatment for Alameda
- Alameda Research received special treatment within FTX's risk engine, exempting it from liquidations.
- This confirms suspicions of an undisclosed special relationship between the two entities.
Public Evidence Ignored
- Evidence of Alameda's special treatment and FTX’s issues were publicly available since 2019.
- Alex Pack discussed his decision not to invest in Alameda due to similar concerns.