FTX Collapse Explained

Rich Dad Radio Show: In-Your-Face Advice on Investing, Personal Finance, & Starting a Business

The Rich Dad Company

Entrepreneurship, Business, Investing

4.1 • 3.9K Ratings

🗓️ 21 November 2022

⏱️ ? minutes

🔗️ Recording | iTunes | RSS

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Summary

As you may have heard, FTX, a popular cryptocurrency trading site that gained popularity after it featured A-list athletes like Steph Curry and Tom Brady in its commercials has collapsed. Today's guest explains how the Enron-style scheme lost billions of dollars overnight.
Mark Moss, a nationally syndicated radio host on the iHeart network, a content creator on YouTube, Podcaster, and the author of the new book “UnCommunist Manifesto,” says, “This token looked like it had value, which was traded on FTX, gained in popularity because people perceived it had value—value Alameda gave it, artificially.” As a result, thousands of unsuspecting investors bought a garbage token.

Host Robert Kiyosaki and guest Mark Moss breakdown the collapse of FTX and how you can prevent falling victim to similar scams.

Transcript

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0:00.0	Robert Kiyosaki has always said,
0:01.9	The Rich Don't Work for Money.
0:03.4	And he has proven it for decades.
0:05.2	It's no secret Robert built his fortune in real estate,
0:08.0	and he's started with a single condo he acquired
0:10.4	with none of his own money.
0:11.8	Now, you can start building your financial fortune
0:14.5	in real estate, even if you have no cash, credit, or experience.
0:18.5	That's right, anyone can do it if you know how.
0:21.2	Robert has taught people from every walk of life
0:23.4	to build their financial fortunes in real estate time and time again.
0:26.9	Robert's stated mission has always been
0:28.7	to elevate the financial well-being of humanity.
0:31.4	That's why he's personally hosting a free, one-hour online training seminar
0:35.4	called How to Start Building, Your Financial Future in Real Estate,
0:38.7	where he'll discuss his proven strategies
0:40.5	to acquire real estate no matter what your current financial circumstances are.
0:44.3	Robert's free training seminar will give you the knowledge and confidence
0:47.2	to finally take action and create the kind of life
0:49.3	and financial freedom you deserve.
0:51.2	And when you register now at richdadfree.com-flashstart,
0:54.7	you'll also get a free copy of Robert's wealth-building e-book
	...

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