Search Engine Where did the 8 billion dollars go?
Sep 29, 2023
Zeke Faux, an investigative reporter for Bloomberg and author of 'Number Go Up,' dives deep into the sensational case of Sam Bankman-Fried, once a crypto superstar. Faux unpacks how over eight billion dollars vanished amid FTX's dramatic collapse. He shares insights from the chaotic world of cryptocurrency journalism, revealing how celebrity culture influenced the rise and fall of Bankman-Fried. The discussion highlights the complex intertwining of wealth, philanthropy, and ethical dilemmas in a landscape marked by both innovation and reckless speculation.
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SBF's Rise
- Sam Bankman-Fried, a crypto billionaire, ran FTX, a crypto exchange.
- He claimed to be a philanthropist, donating to various causes, and became a prominent figure in mainstreaming cryptocurrency.
Initial Crypto Skepticism
- Zeke Faux, an investigative reporter, was initially hesitant to cover crypto, finding early schemes unsophisticated.
- He likened investigating crypto to reviewing Taco Bell as a snooty food critic.
One Weird Trick
- Zeke Faux first heard about SBF in a New York Magazine article about his political donations.
- SBF's arbitrage strategy, profiting from Bitcoin price differences between US and Japan, intrigued Zeke.
