#289: Genius fraudster? Fraudulent genius? You decide.
There's not much else to do when you build and destroy your own crypto empire.
At the risk of bombarding you with even more acronyms from the worlds of tech and finance, we’re here to tell you that The Naked Emperor deserves a listen; whether you followed the demise of FTX or not.
Four episodes distill the BS of SBF and act as an audio archive of one of the largest financial frauds in history. And let’s be real here, four episodes are likely all you’ll have in you since host Jacob Silverman only deals with facts and some of these facts are wild.
The Naked Emperor avoids the fluff and fodder that SBF almost dares reporters, fraud victims, and others to overindulge in and makes a point to look at the details like how the lack of boundaries between FTX and Alameda Research was unorthodox, to say the least. Or how there really wasn’t any accounting department, employee directory, or risk management being done whatsoever.
Lucky for us, just the right amount of attention is spared covering how FTX customer deposits were co-mingled with SBF’s Alameda Research hedge fund, real estate purchases, and US political contributions to both sides of the aisle.
On top of that, we get to hear about the idiosyncrasies of all the players involved and how they also co-mingled.
Silverman brings it home as he interviews some of those affected by the collapse of FTX, talking to people all over the venture capital investment map including one well-known wealthy businessman that’ll make it out of this just fine.
Bankman-Fried’s alleged crypto Ponzi scheme resulted in $8 billion in customer funds evaporating into thin air. The average, everyday investors who trusted the faces that endorsed FTX will be lucky if they see that money anytime soon. SBF denies all charges but if he’s convicted he faces 115 years in prison with his trial slated for October 2023.
Have a listen and share what you think.
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