As the autopsy of Sam Bankman-Fried’s crypto empire begins, it’s worth saying that there were red flags all over the place. We missed them. It was a success story almost too good to resist. In just over three years, FTX would go from nothing to a $32 billion company. Now it’s back to nothing.
Along the way, investors, politicians, regulators and yes, journalists, dropped the ball. In Bankman-Fried, with his chirpy energy, bottomless optimism and texts-me-back-on-deadline openness, we found a conduit to the crazy world of cryptocurrency that could help make sense of it all.
To accept the image, however, was to suspend disbelief. The clues were there, often coming straight from SBF himself. Talking to David Rubenstein, one of the founders of the Carlyle Group and a Bloomberg TV host, Bankman-Fried explained why he created FTX. It would foreshadow the exchange’s demise.
Read the full story on Forbes: https://www.forbes.com/sites/brandonkochkodin/2022/11/11/the-red-flags-on-ftx-we-all-seemed-to-miss/?sh=26979af11f67
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18 Comments
Yeah, SBF made you ignore all the red flags with donations to the powerful
Anti God System
Revelation 18 explains the demise of the System.
God’s money system is Just not corrupt.
Revelation 18:4 is the Solution!
So glad I never messed around with FTX.
👆 on Instagram thanks for make me have my successfully withdraw most important I recovered all my funds💯 back appreciate the good work
Biggest donor to the democratic party. No wonder you guys promoted him so much.
Where was regulation
"WE"
The false scandals about Republicans such as the Russian hoax always seem to come out before an election. But then the real scandals typically involving Democrats such as this FTX fiasco come out after the elections. Funny how that works
Maybe if you didn't swap your journalist tasks with a pay-to-publish business model you might have done research before the fact, Forbes…
Moral of the story is that most stories in businesses can be treated as IQ tests for individuals in business to know what is legitimate and what is fake.
Lock him up!
Who is we All? I stopped fawning over people with money ages ago. Forbes you people got your mouths at the ready for the next up & comer with cash. I send you guys some knee pads.
this was nothing but a deep state money laundering scheme using the 100s of $ millions given to Zelensky
This man is a walking mass of pubic hair on the economy.
Forbes is known for allowing fake gurus to write their own articles about themselves and post them on Forbes to give themselves perceived credibility. Forbes needs to do better.
When greed takes over reason goes out of the window!!!
You all at Forbes her pretty damn stupid…. that’s an understatement …you drank the Kool-Aid…. That’s what you do …(money)how did you fall for this because you’re stupid …I don’t trust you or your Magazine
I knew the risks. But this is just scandal. I've been stolen from aswell as hundreds of thousands of others! Throw him in prison.