All right, welcome to the Carl Jackson show on this man Tuesday edition. I almost forgot my days there, but uh,

getting so crazy after all the stuff that's happening with Arizona and Nevada. But today is a different show. Um,

I was really interested in what's happening with this with this company FTX, uh, friend of mine came to mind. He's been on before both actually RC Williams and Julian Arman have been on before to talk about cryptocurrency every man's guide to cryptocurrency.

Uh, and they warned us about some of the things that might be transpiring. They're back today. They are from Sherlock market research. And today we're just going to talk about all things,

uh, all things FTX, what you need to know, uh, whatever, uh, both RC Williams and, and, uh, Julian Arman are going to just kind of fill in the gaps for us, uh, give us details, things we should know, things that we should watch out for.

So on et cetera. So guys, welcome back to the Carl Jackson show podcast.

Carl, blessed to be back with you, my friend. Thank you. Thanks Carl. Absolutely. All right, guys. So I was, uh, and I was telling you guys off line. This stuff was blowing up. And I'm sitting here thinking I need to talk about this stuff.

And I'm thinking of you and I'm like, I need to contact RC and then I look down on my phone and there you are. And I'm like, just a straight up sign that I'm a straight up procrastinator while you're being, while you're being vigilant. But I'm glad you texted me because it is something that we need to,

we need to talk about. Obviously, this is gone completely, uh, completely nuts. This, this, this FTX, uh, basically disappeared overnight. But I don't, I don't think that's necessarily true.

And, and, and that's kind of what I want you guys to get into because you guys have kind of been warning about this and the government getting their hand in the cryptocurrency. They want to be able to control, uh, be able to control this.

Obviously, um, but at the same token, this guy, uh, what's his name? Sam Bankman, free. Yes, SbF for those who don't want to say the whole name. He's got three letters. So, okay.

The story is F. F. Alright, um, did you guys, let me ask you guys this. Did you guys smell a rat with this FTX, I mean, even before we get into the government stuff, were there any indicators that this guy was a fraud that this, what transpired here, because this thing seemingly crashed overnight.

But I don't necessarily believe that it could crash overnight. There had to be some indicators leading up to this. Yeah, Carl. So it was an odd set of circumstances, which seems to be always how we start these types of stories. So, uh, SbF obviously has connections, uh, around the world.

And this has been pointed out by some people over the weekend as this stuff really started to fall apart. Um, you know, his connections to MIT, which seems to be where a lot of these evil things start. I mean, the Boston Fed works directly with MIT on Fintech or financial technology.

Uh, Sam is very connected to the school. He obviously went to MIT. His co-founders did the current CEO of Alameda Research, which is basically the hedge fund clearinghouse for FTX. Another one, her dad is a leading voice at MIT and an instructor.

Here's what's also interesting, Carl is that Gary Gensler, who is the current head, the chairman of the SEC and was the former head of the CFTC, which is really important. We'll get to that in a minute.

Um, was also intimately connected and taught at MIT. So all of these people are connected. And then the other part of it is you see kind of this injection of Silicon Valley coming in. So FX, yeah, grew rapidly.

So you give a young person who maybe is intelligent, a ton of money and a ton of power and Sequoia, which has an investment firm is legendary in the Silicon Valley for funding startups that that became huge.

And Dreson Horowitz, a disease, which is another one that that is huge. They put tons of money into this thing. I mean hundreds of millions of dollars.

And everything fell apart. They just sent out letters to their investors saying, well, we're to doubt the zero oops, you know, but it's not the end of the world. We're completely OK.

So all of these things happen Carl in succession and back in September.

Um, we looked at a piece that that actually was first released on Yahoo, where S B F was quoted basically saying that, you know, regulation needs to happen. There are a lot of scam like players out there in the crypto space.

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