The crypto-collapse: inside the crazy world of FTX

Today in Focus

The Guardian

News, Daily News

4.6 • 5.9K Ratings

🗓️ 29 November 2022

⏱️ 33 minutes

🔗️ Recording | iTunes | RSS

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Summary

The cryptocurrency exchange FTX collapsed earlier this month, leaving billions of dollars unaccounted for. Alex Hern explores what happened and where the money went. Help support our independent journalism at theguardian.com/infocus

Transcript

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0:00.0	This is the Guardian.
0:08.0	Today, Sam Bankman Freed was the respectable face of the crypto world.
0:13.7	But now his company, FTX, has crashed.
0:17.8	Will it bring the whole industry down with it?
0:20.1	The Guardian
0:25.1	is the most generous billionaire in the world.
0:27.1	And I found him.
0:29.1	Hi, my name is Sam and this is my story.
0:31.1	Sam Bankman Freed had become a master of his own mythology.
0:36.1	Sam has crazy hair.
0:38.1	Sam is vegan.
0:40.1	Sam, Sam, I'm getting a lot of money.
0:43.1	Sam is a vegan.
0:44.1	Sam is a vegan.
0:45.1	Sam is a vegan.
0:47.1	Sam is a vegan.
0:48.1	Sam, Sam, I'm getting into crypto.
0:50.1	With FTX, you win?
0:52.1	They call him the JP Morgan, a crypto.
0:56.1	The Michael Jordan of crypto, yeah.
0:58.1	Yeah, yeah.
1:02.1	Since founding the cryptocurrency exchange FTX in 2019,
	...

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