Crypto’s crown prince in court

Today, Explained

Vox

Daily News, Politics, News

4.4 • 9.5K Ratings

🗓️ 3 October 2023

⏱️ 28 minutes

🔗️ Recording | iTunes | RSS

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Summary

FTX founder Sam Bankman-Fried’s trial begins today; a guilty verdict could represent the final nail in crypto’s coffin. Bloomberg’s Zeke Faux, who spent two years chronicling SBF’s downfall, explains. This episode was produced by Amanda Lewellyn, edited by Amina Al-Sadi with help from Matt Collette, fact-checked by Serena Solin with help from Laura Bullard, engineered by Patrick Boyd, and hosted by Sean Rameswaram. Disclosure: In August 2022, Sam Bankman-Fried’s philanthropic family foundation, Building a Stronger Future, awarded Vox’s Future Perfect a grant for a 2023 reporting project. That project is now on pause. Transcript at vox.com/todayexplained Support Today, Explained by making a financial contribution to Vox! bit.ly/givepodcasts Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	If the today explained court calendar is correct, the trial of Sam Bankman-free, the
0:08.2	Crown Prince of crypto begins today.
0:10.5	Jury selection starts today in the New York Federal trial of Sam Bankman-free.
0:14.6	The 31-year-old is accused of defrauding investors and customers out of billions of dollars.
0:20.5	You remember Sam, right?
0:21.5	People call him SPF and he ran the crypto exchange FTX.
0:24.9	These are real things.
0:25.9	They're going to transform the economy.
0:27.6	Are there commercials?
0:29.0	Fortune favors the brave.
0:31.4	No, no, not that one.
0:32.4	The one with Larry David.
0:33.6	Brother David, behold, it's a fork.
0:37.4	I got ten forks right here, band-aid.
0:40.0	Come on, am I right?
0:42.4	Yes, I am.
0:43.4	We're going to talk about SPF's meteoric rise and his lightning fast fall, what it means
0:48.5	for you and me, and whether crypto could ever make a comeback.
0:52.2	Yeah, I don't think so.
0:56.6	But I'm never wrong about this stuff.
0:58.8	Never.
0:59.8	Support for the show today comes from sacs.com.
	...

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