Demetri Kofinas is the proprietor of Hidden Forces and the host of my single-favorite podcast. You can learn more at http://hiddenforces.io and for what it's worth, this is content that is worth paying for (and I am a paying subscriber.) We're going to do a deep dive into the incredible collapse of a cryptocurrency exchange called FTX and its founder, a temporary-billionaire guy who really seemed like a slob, who now seems like the love child of Bernie Madoff and Bilbo Baggins. I think he's going to prison, and well he should.
Hidden Forces with Demetri Kofinas
Great in-depth piece: https://www.commonsense.news/p/the-32-billion-crypto-scammer
Apparently this scammer "managed risk" by dumping his risk on to his unsuspecting customers: The Risky Business of Sam Bankman-Fried (WSJ)
FTX Files For Bankruptcy—Former Billionaire Sam Bankman-Fried Resigns As CEO (forbes.com)
Wipeout: The downfall of 30-year-old crypto star Sam Bankman-Fried (smh.com.au)
SBF massive apology won't save him: (15) Tweet / Twitter
In this Twitter thread, SBF explains that he is much more of a risk-taker than more people: (19) SBF on Twitter: "12) In many cases I think $10k is a reasonable bet. But I, personally, would do more. I’d probably do more like $50k. Why? Because ultimately my utility function isn’t really logarithmic. It’s closer to linear." / Twitter