THE FTX COLLAPSE / SAM BANKMAN-FRIED
Episode 230 | Historical Events
In this History episode we focus on the FTX collapse — Sam Bankman-Fried, a $32 billion cryptocurrency exchange that went from peak to bankruptcy in 96 hours, and $8 billion in customer funds that had been used as a trading slush fund for the affiliated firm Alameda Research from the first month of FTX's operation. The fraud was not discovered by regulators or auditors. It was exposed by a CoinDesk article about Alameda's balance sheet.
We trace the specific mechanics of the fraud — Alameda's secret line of credit from customer deposits, the $8 billion…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.