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Sam Bankman-Fried, American crypto entrepreneur accused of fraud, denies charges. Trial's outcome could lead to life sentence. Financial journalist Michael Lewis discusses his new book Going Infinite. Trial's implications for cryptocurrency industry. Potential of cryptocurrency, fall of FTX, accusations of fraud. Bankman-Fried's belief in effective altruism and distorted narratives. Impact of trial on global crypto regulation.
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Quick takeaways
- Sam Bankman-Fried, the founder of FTX, is on trial for fraud, accused of lying to investors and lenders.
- The trial highlights the challenges of regulating the crypto industry and raises questions about the tarnishing of effective altruism by Bankman-Fried's alleged fraud.
Deep dives
Sam Bankman-Free's rise and fall in the crypto world
The podcast episode explores the story of Sam Bankman-Free, an American crypto entrepreneur who went from billionaire to bankrupt. He is currently on trial in New York for fraud, accused of stealing more than $8 billion from customers and investors. The trial is attracting significant attention due to Bankman-Free's meteoric rise, from a high-frequency trader to the founder of the crypto exchange FTX. The case is also seen as part of a wider crackdown on the crypto industry by financial institutions. The episode features insights from financial journalist Michael Lewis, who spent extensive time with Bankman-Free.
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