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Sam Bankman-Fried Interviewed Live About the Collapse of FTX

3 pointsby shockeychapover 2 years ago

1 comment

shockeychapover 2 years ago
Ten minutes in, and I continue to be astonished at the kid-glove treatment he continues to get, even as the scale and brazenness of the fraud is known.<p>They lent money - customer money - to Alameda using THEIR OWN TOKEN as collateral.<p>They used messaging systems with auto-delete to communicate management decisions about expenses and money transfers.<p>They didn&#x27;t have proper tracking of their own bank accounts and funds.<p>They used an auditor who was the &quot;first-ever CPA firm to officially open its Metaverse headquarters in the metaverse platform Decentraland&quot;.<p>Bernie Madoff wasn&#x27;t this brazen, and he was described openly as a fraud and a criminal. Yet even now, in this interview, BY THE NEW YORK TIMES, he&#x27;s politely asked a question - like how customer funds got lent to Alameda - he gives an answer that is obviously meant to confuse and deflect, and no follow-up is made.<p>SMDH.