Blockchain

The collapse of FTX, Sam Bankman-Fried’s crypto con, how it soared & why it vapourized



#sambankmanfried #crypto

The downfall of FTX has taken the crypto world by storm. In episode 1119 of #CutTheClutter Editor-in-Chief Shekhar Gupta explains how FTX soared, why it vapourized & Sam Bankman-Fried’s crypto empire. 

Brought to you by @KiaInd
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Read ‘Partner-swapping, pills & playing games: Inside Sam Bankman-Fried’s FTX party house here: https://nypost.com/2022/11/21/polyamory-pills-inside-sam-bankman-frieds-ftx-party-pad/

Read Sam Bankman-Fried Becomes an ESG Truth-Teller here: https://www.wsj.com/articles/sam-bankman-fried-esg-truth-teller-ftx-cryptocurrency-crash-11668723808

Watch ‘The FTX Collapse, Explained | What Went Wrong’ here: https://youtu.be/AbgRB3arCpY

Read FTX’s Bahamas crypto empire: Stimulants, subterfuge and a spectacular collapse here: https://www.washingtonpost.com/technology/2022/11/24/ftx-bahamas-albany-fried/?outputType=amp

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31 Comments

  1. EVERY FAMILY HAS THAT ONE PERSON WHO WILL BREAK THE FAMILY FINANCIAL STRUGGLE I HOPE I BECOME THE ONE ☺️… IN A FEW WEEKS I WAS ABLE TO PAY OFF MY DEBTS THROUGH INVESTING IN CRYPTO TRADING

  2. please make a video on Many attractive FD scheems aften launched in Pune city, by private company for example Phadnis Infrastructure pvt ltd etc, many aged people invest their retirement funds in those companies and they never get their principle amount after 2-3 years getting interest of 10% , while banks were giving hardly 5-6 % on FDs. This video topic can be more usefule for many middle class indians as this fraud is going from many years in pune, nobody dares to complaint against these big builders/Frauders as every time money get lapsed just before elections in maharashtra that means the money has some political connection. Phadnis infrastructure CEO vinay phadnis got jail in Nasik after many complaints but he got freed before COVID. Also he has not returned the money nor interest is given since many years.
    This problem is not only of Maharashta, in MP bhopal there are many such frauds happened in real state for example there is Happy vally, project by Lakshya realities which sold farm house plots in reaaonable price to many people in 2006-2007 and said they will do road and electricity development in 2 years.Till now nothing is done, their CEO/Manager Manish got jail but he is also out of jail. People can not complaint more, neither they are ready to use those plots nor they are able sale because those plots are having 3 ft high grasses , no boundry wall for that project land.
    My point is Crypto is not a topic for Indian public, If you can talk and do research on above topics that will help many indians to not get cheated by private companies indirectly backed by politicians.
    A senior Journalist like you will not talk over this kind of risky topics then watching print will also be like watching other sponsored news/ advertisement channels.

  3. It's quaint how you won't praise your idols at the New York Times here, Mr Gupta. They're hosting an event on the 30th where Sam Bankman-Fried will be one of their honored guests. Even the arrogantly obnoxious The Economist once touted that other crypto fraud Ruja Ignatova, but did not honor her after that bubble burst. Your idols are happy to tout SBF after he was caught out as a thief, thanks, most likely, to the huge amounts of money that he sent to a political party that that birdcage liner pimps for.

    And, in that, there's several jokes about The Print, beginning with your longstanding attempts at playing brown sahib. And then, if memory serves me, your own Regina Mihindukulasuriya even wrote a piece praising bitcoin and cryptocurrencies because she wanted them to replace the US dollar. You're lucky you're not in the US, or you might have fallen afoul of both state attorneys general and class action lawyers…

  4. Crypto is just shady commodity for gambling games. All Indians should pull out crypto investments or stick to it like a fool for some years

  5. आजकल दुनिया में स्मार्ट वही है जो दूसरे का पैसा उसकी जेब से निकाल कर अपनी पॉकेट में रख लेता है.
    पूरा खेल उसी पर केंद्रित है.

  6. Areee Chacha… why u like this, this has more closer to Harshad Mehta scam + Bankrun & nothing to do with crypto, what you are saying is NSE/stocks was responsible for the Harshad Mehta scam

  7. "When you discover a perfect guy, you are dealing with a fraud. God almighty never made anybody perfect. At least in our Hindu tradition even, no God pretends to be perfect" – Wise words of wisdom. Shekarji's famous quotes.
    Also, there is shady dealing between FTX and Ukraine where the money was laundered as donations and landed into corrupt pockets.

  8. Shekhar, every rich person is always on a lookout for investing a part of his investment in New age instruments which are inherently a jackpot or a dud. They don't mind loosing every penny because if it clicks big time they will get multifold.
    Therefore when u say all the rich people who invested or believed him were idiots may not necessarily be true. That's a calculated risk that the rich take.

  9. Sam is very smart because he was able to buy Tony and Bill. He bribed powerful political parties in USA and moved to Bahamas to escape from this crime from the beginning.

  10. <<Great Video! But I made my first million through trading stocks and inves-ting as a beginner but assisted by an expert obviously; Elizabeth Ernst David. We met at a trading conference and I looked her up online thereafter. Bottom line, she agreed to guide me and I've had no cause to regret ever since.

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