Hey guys, a note before the episode today. On Thursday evening, that's November 2nd,

Sandbagman Fried was found guilty of all charges. So that's all seven counts that he was charged for.

Now we've recorded this roll-up episode before the verdict dropped. David's in Europe,

he's likely asleep, so we haven't had a chance to talk about this. But I'm pretty sure I speak

for him when I say it feels so good to end this painful chapter in crypto. One year and five days

ago we hosted SBF on this very podcast on a debate with Eric Voorhees on crypto regulation

and it was an absolutely legendary debate. We arranged it after we heard from some friends that SBF

was up to mischief in DC. Apparently they said he was greasing the pockets of lawmakers and working

with them on a crypto bill that would make D5 front ends virtually illegal. Effectively,

this would be pulling up the ladder for decentralized finance and accruing more power

for his exchange for FTX and doing all of this under the auspice of practicality. I remember the

debate well and at times it felt like SBF was almost giving us a lecture. We crypto natives didn't

understand how to work with governments. Our values weren't practical. They couldn't win. They were

too rigid. Here was a billionaire wonder kid, but one of the world's top exchanges in less than

four years. What did we know about building business and getting things done in DC? This is the

tone of the conversation. Equally, I remember Eric Voorhees with eviscerating arguments and

monkish precision. He argued to Sam that crypto is an open, permissionless financial system for the

world. It's like the internet. It's like email. Any society that rejects this technology is a

society that rejects fundamental freedom. I felt like Eric's moral clarity pierced through the

bullshit like a knife through butter and David and I watched as SBF absolutely withered under

this approach. One thing struck me at the time. It seemed that crypto had made a grave mistake

in entrusting so much to people like Sam who didn't share our values. I was so happy to trade

...