

The Secret Story of FTX’s Rise and Ruin Part 1
38 snips Sep 27, 2025
Jonathan Jones, an investigative reporter known for his deep dives into significant stories, interviews Sam Bankman-Fried, the infamous crypto magnate. They explore the chaotic collapse of FTX, highlighting the frantic atmosphere inside the company as panic set in. Bankman-Fried claims he never intended to defraud customers, contradicting alarming internal revelations. The episode unpacks the role of aggressive marketing in FTX’s rise, and the catastrophic effects of a single tweet that triggered a massive liquidity crisis, leading to one of the most costly bankruptcies in history.
AI Snips
Chapters
Books
Transcript
Episode notes
Visibility Built Fast Trust
- Sam Bankman-Fried built public trust by constant visibility and messaging across platforms.
- That public persona helped FTX attract everyday investors and major partners quickly.
Everyday Users Put Life Savings On FTX
- Lydia Favario, a life model, put her modest settlement money on FTX as a retirement nest egg.
- She later described those funds as literally her life savings on the exchange.
Legitimacy Through Acquisitions And Advisors
- FTX used acquisitions and elite advisors to appear legitimate to regulators and investors.
- Hiring familiar law and compliance figures smoothed rapid global expansion.