1 year ago
According to much than 250 documents sent to the media, the disgraced co-founder of FTX, Sam Bankman-Fried, said helium feels similar “one of the astir hated radical successful the world.” The erstwhile CEO of the now-defunct crypto speech further noted successful his statements that “there volition astir apt ne'er beryllium thing I tin bash to marque my beingness interaction nett positive.”
Behind the Fall of FTX: Bankman-Fried’s Private Documents Point Fingers
While nether location arrest, Sam Bankman-Fried shared 250 pages of documents with writer Tiffany Fong, who past provided some of the materials to The New York Times. In 1 circumstantial X thread that Bankman-Fried ne'er published, helium said, “The information is that I did what I thought was right,” but helium didn’t judge determination was immoderate mode helium could alteration the public’s cognition of him. Fong explained that Bankman-Fried shared the documents with her due to the fact that she is an autarkic newsman and doesn’t “work for anyone.”
According to The Times’ report, Bankman-Fried places a large woody of blasted connected his erstwhile lover, Caroline Ellison, for the collapse. He reportedly said she wasn’t acceptable to tally Alameda Research and claims she cried during a gathering with him. In a circumstantial papers titled “Alameda’s Failure to Hedge,” Bankman-Fried wrote:
She continually avoided talking astir hazard absorption — dodging my suggestions — until it was excessively late. Every clip that I reached retired with suggestions, it conscionable made her consciousness worse. I’m definite that being exes didn’t help.
Alameda’s erstwhile CEO, Sam Trabucco, besides faced criticism. In 1 memo, Bankman-Fried asserted that successful 2021, Trabucco “was successful the process of quiescent quitting.” He besides allegedly mentioned that Trabucco enjoyed “going connected dates with a ton of guys portion sailing astir the satellite connected a boat.” Binance’s Changpeng Zhao, commonly known arsenic CZ, was referenced successful a enactment astir a representation from 2019. However, overmuch of the blasted appears to halfway connected Alameda’s hedging techniques, and Bankman-Fried believes if Alameda had hedged correctly, the problems wouldn’t person occurred.
“If Alameda had hedged, it would person remained solvent and prevented the full unhappy story,” Bankman-Fried wrote.
What bash you deliberation astir Bankman-Fried’s writings? Share your thoughts and opinions astir this taxable successful the comments conception below.
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