CONSENSUS CONVERSATIONS: FTX – What Happened?
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 31 May 2023
⏱️ 31 minutes
🧾️ Download transcript
Summary
A Consensus 2023 panel with Brett Harrison and Anthony Scaramucci.
The fast and hard fall of Sam Bankman-Fried's empire sent shockwaves through the global crypto markets and raised troubling questions about industry governance practices. A hedge fund manager whose firm invested in SBF's exchange (and vice versa) and the former president of FTX's U.S. arm candidly reflect on how it all went wrong, what they'd do differently, and how they are reengaging and working to build a better industry.
Tracy Wang, deputy managing editor of CoinDesk, moderates alongside panelists:
- Brett Harrison, founder and CEO of Architect
- Anthony Scaramucci, founder and managing partner of SkyBridge Capital
This episode is executive produced by Jared Schwartz and edited by Ryan Huntington, with additional production assistance from Eleanor Pahl. Cover image by Kevin Ross and the theme song is "Get Down" by Elision.
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Transcript
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| 0:00.0 | Hi everyone. |
| 0:02.0 | Good morning. I'm Tracy Wang. I'm a deputy managing editor at CoinDesk and did a lot of reporting on FTX. |
| 0:24.6 | And I'm joined here today by Anthony Scaramucci, who really needs no introduction. He is the founder of Skybridge Capital, a crypto, well, a hedge fund asset manager with, you know with significant activity in crypto. |
| 0:38.7 | And joining us virtually is Brett Harrison all the way from Thailand. |
| 0:42.9 | So thank you so much, Brett, who is the former president of FTXUS, |
| 0:46.8 | and now the CEO and founder of Architect. |
| 0:50.1 | So, Anthony, we last spoke at the Salt Conference, which is a great conference that you put on back in September. |
| 0:59.2 | And, you know, it's now been five months since FTCS collapsed. |
| 1:05.7 | How are you holding up? |
| 1:07.6 | You know, listen, it was a very disappointing thing that happened and just to lay the backdrop. |
| 1:12.2 | When we last spoke, we had made the announcement about our sale, a partial sale of our company to Sam and FTCS ventures. |
| 1:21.6 | It was probably five or six days prior. |
| 1:23.7 | So we went from hero to zero in that transaction in about eight weeks. And the last time you and I |
| 1:30.3 | spoke, we were probably seven days into that announcement. But I think the important thing for me, |
| 1:35.8 | and I obviously want to hear what Brett has to say, is I think it's very important to talk about it, |
| 1:41.4 | because if I can prevent one person from having to have happened |
| 1:46.1 | to them what happened to us, then it's worth it to me to talk about it. But I think we're holding |
| 1:52.6 | up quite nicely, and I think we've gotten the full benefit of the last quarter in terms of what's |
| 1:59.6 | going on in the cryptocurrency space. So we're having our, |
| 2:02.7 | that was probably our best quarter that we've had in 10 years at our firm. So I'm very happy |
| 2:06.8 | with that. So things seem to be shaping up nicely this year. All right. That's good to hear. |
| 2:12.2 | And Brett, what have you been up to in the past five months? Yeah, I'm getting back to that same Sault Conference. |
... |
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