Have you heard about Sam Bankman-Fried and FTX? FTX was the second largest crypto currency exchange in the world and Bankman-Fried was the guy who ran it. He was a young genius, people said. He practiced something called “effective altruism,” gave away money to people on the street, played video games, and was predicted to be the world’s first trillionaire.
Now he’s bankrupt, FTX is in ruins and large amounts of crypto seem to keep shifting around with no explanation. So who was Bankman-Fried? Why did everyone think he was a genius? And how did FTX seemingly make billions of dollars in wealth evaporate overnight.
On this episode of Cyber, Motherboard staff writer Edward Ongweso Jr. tries to answers those questions.
Stories discussed in this episode:
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