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“Crypto ‘smart’ money? Big traders fell for Sam Bankman-Fried” I was shocked when I first learned how a hot mess like Sam Bankman-Fried got away with convincing so many seemingly smart people — big money managers, venture capitalists and all those celebrity ambassadors — that he was such a boy genius of investing, they should…
“Don’t trust mainstream media, SBF’s no schlub and other commentary” From the left: Don’t Trust Mainstream Media “I mourn” for the news business, writes TKNews’ Matt Taibbi. “It’s destroyed itself.” After the internet arrived and flooded the market with new voices, some outlets found that, “instead of going after the whole audience, it made more…
“Media treats fraudster Sam Bankman-Fried with kid gloves because he was a Dem darling” People often talk about “cancel culture.” The way in which people are “canceled” from public life for the tiniest error of judgement or the most minute misstep. So it is interesting to discover what you can do and still not get…
“Parents’ $16.4M Bahamas home meant for FTX staff” Sam Bankman-Fried claimed he didn’t know how a $16.4 million Bahamas mansion got listed under his parents’ names, insisting that it was meant to house staffers at his now-defunct FTX cryptocurrency exchange. “I don’t know the details of the house for my parents,” Bankman-Fried told the New…
“Sam Bankman-Fried rejects Bernie Madoff comparison, squirms during tense interview” Disgraced FTX founder Sam Bankman-Fried pushed back on critics who have compared him to the late Ponzi schemer Bernie Madoff, even as he deflected questions over whether he might be headed to jail. The 30-year-old former crypto kingpin claimed during a Thursday interview with ABC’s…
“‘Didn’t ever try to commit fraud’” Sam Bankman-Fried, the founder and former CEO of now-bankrupt crypto exchange FTX, attempted to distance himself from suggestion of fraud in his first public appearance since his company’s collapse stunned investors and left creditors facing losses totaling billions of dollars. Speaking at the New York Times’ Dealbook Summit with Andrew…
“Kraken slashing 1,100 jobs as crypto turmoil spreads” Cryptocurrency exchange Kraken said on Wednesday it would cut its global workforce by 30%, or about 1,100 employees, citing tough market conditions that have crippled demand for digital assets this year. Higher interest rates and worries of an economic downturn have roiled cryptocurrencies as investors fled risky assets, with…
“Wild FTX spending included all-expense trips and free massages” FTX executives spent wildly and showered workers with lavish perks such as free food and massages, and Amazon deliveries by private jet in the months before the cryptocurrency site’s catastrophic collapse, according to former employees. FTX’s headquarters in the Bahamas featured daily catering “in addition to…
“Sam Bankman-Fried claims he only has $100K in bank account” Disgraced FTX founder Sam Bankman-Fried claims he has just $100,000 left in his bank account after the implosion of his cryptocurrency empire. The remarks Monday marked Bankman-Fried’s first attempt to explain his current personal wealth during intense scrutiny over his handling of FTX’s finances. The…
“FTX founder Sam Bankman-Fried ghosted legal team over bankruptcy: report” Disgraced FTX founder Sam Bankman-Fried ignored pleas from company attorneys and advisers urging him to file for bankruptcy “for days” before the cryptocurrency platform imploded, according to a report Tuesday. FTX general counsel Ryne Miller was one of several people who begged Bankman-Fried and other…