SBF's trial has started, and here's what you missed (Equity x Chain Reaction crossover)

Equity

TechCrunch

Entrepreneurship, Business News, News, Business, Technology

4.2 • 372 Ratings

🗓️ 5 October 2023

⏱️ 34 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

This time, we teamed up with the Chain Reaction podcast and Jacquelyn Melinek to talk about the ongoing trial of former FTX CEO Sam Bankman-Fried, also known as SBF. The rise of FTX and its later implosion rocked the crypto world when the formerly massive crypto exchange went under last year. In the aftermath, the company's executives have been charged with financial crimes. Many have pleaded guilty and are cooperating with the government. SBF is not. Here's TechCrunch's reporting on the trial thus far that we went over on the show: SBF’s trial has started, this is how he and FTX got here SBF’s trial promises to be just as riveting as the rest of the FTX drama US government confirms it didn’t offer any plea deals to Sam Bankman-Fried Meet the 12 jurors on Sam Bankman-Fried’s trial Was FTX an empire ‘built on lies’ or a startup that ‘grew too quickly’? That last entry goes over the opening statements, which we got into during the show. Jacquie, of course, hosts TechCrunch's Chain Reaction podcast, which is focused on all things crypto. We're lucky to have her back on the mic. More to come on the SBF trial. Stick close to TechCrunch! For episode transcripts and more, head to Equity’s Simplecast website. Equity drops at 7 a.m. PT every Monday, Wednesday and Friday, so subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. TechCrunch also has a great show on crypto, a show that interviews founders and more! Credits: Equity is produced by Theresa Loconsolo with editing by Kell. Bryce Durbin is our Illustrator. We'd also like to thank the audience development team and Henry Pickavet, who manages TechCrunch audio products. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Hello and welcome back to Equity, Tech Runches Venture Capital of Focus Podcast, where we
0:15.2	unpack the numbers and the nuance behind the headlines. My name is Alex and today we have
0:19.2	a special treat for you because we are doing a crossover episode with our dear friends over at Chain Reaction
0:24.0	Decorinj's crypto focus podcast because if you haven't heard there is some big stuff
0:28.0	going along in a legal room in New York and that means we have Jackie Millenick here to talk
0:32.4	about all things
0:33.1	SBF. Jackie I think we need some more acronyms so I'm very glad that you're here.
0:37.2	Hi. Coming to you live from New York or what is it?
0:40.2	Saturday night. No it's actually SD&Y, which is the SBF trial location, which is the
0:46.0	Southern District of New York. There's another acronym. No, I appreciate it. Between all all the acronyms, I actually
0:50.8	think I'm slowly becoming intelligent.
0:53.0	But we are here because Sam Bankman Freed, the former CEO and co-founder of FCX, a formerly
0:59.4	major crypto exchange, is facing seven counts of variously securities fraud, wire fraud, and
1:06.5	conspiracy to launder money. If you don't know, those are bad things that you shouldn't
1:10.7	do.
1:11.7	Don't do that, yeah. Very, very much, don't do it.
1:13.0	Even if your friends say you should, you should not.
1:15.0	Because SBF is basing up to 115 years in the clink, as they say.
1:20.0	And that's more than one lifetime Jackie last time I checked.
1:23.0	Yeah, and he's in his 30s.
1:25.0	So unless the technology exists to keep him alive for 140 years,
1:29.0	don't check my mouth on that.
	...

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