THE HASH: Why the FTX Collapse Looks an Awful Lot Like Enron

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4.7 • 698 Ratings

🗓️ 18 November 2022

⏱️ 29 minutes

🔗️ Recording | iTunes | RSS

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Summary

This episode is sponsored by minima.global, Circle and Pastel Network. The most valuable crypto stories for Friday, Nov. 18, 2022. "The Hash" hosts dive into the extensive and nuanced parallels between FTX and Enron, including the strange twist that Enron's former lawyer is now the new CEO of FTX. Plus, Secret Foundation founder Tor Bair shares his thoughts on the tradeoffs between open ledgers and privacy-preserving approaches to the blockchain. See also: The FTX Collapse Looks an Awful Lot Like Enron This episode has been edited by Michele Musso. Our executive producer is Jared Schwartz. Our theme song is “Neon Beach.” - Minima is a new layer 1 blockchain, designed to run in full on a smartphone. Join over 300,000 Minima node runners on the Incentive Program today, to start earning $MINIMA every day until Mainnet launch. Get your node setup and earn $MINIMA at minima.global/get-involved. - Circle, the sole issuer of the trusted and reliable stablecoin USDC, is our sponsor for today’s show. USDC is a fast, cost-effective solution for global payments at internet speeds. Learn how businesses are taking advantage of these opportunities at Circle’s USDC Hub for Businesses. - SmartMint by Pastel Network is a no-code NFT minting platform that allows creators to seamlessly create, mint and manage NFTs on custom smart contracts that they own. SmartMint also protects creators’ NFTs from fraud, copymint, and asset loss through Pastel’s mission-critical Web3 infrastructure. Start creating today: https://smartmint.pastel.network/?utm_source=coindeskhash. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

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0:43.9	Wondery, UK. That's audible.com slash Wondery UK.
0:49.7	This episode of The HASH is sponsored by minima.Global, Circle, and Pastile Network.
1:03.2	This is The HASH podcast. Stay informed with the latest on Bitcoin, ETH, the Metaverse, Web3, and more,
1:12.1	with stories that matter to the crypto world, all on the hash for your ears. You're listening to the Coin Desk podcast network.
1:22.1	Hello, everyone. Happy Friday and welcome to The Hash on CoinDesk TV. Thank you for joining us and being with us
1:29.7	through this tumultuous time in the industry. I'm Jensenassie. I'm joined by Zach Seward and David
1:35.6	Morris on this Friday afternoon. David, you are kicking us off. What do you got for us today?
1:42.3	Yeah. So I have a column that was out this week.
1:46.3	It's a very complicated issue, obviously, but regarding the FDX collapse. As we look at the
1:52.6	wreckage of what has happened, there are some very disturbing similarities to the way the fraud
1:59.6	at Enron worked. And to keep it simple, there are basically
2:03.4	two things that went on at FTX and Alameda. One is that because FtX and Alameda were
2:10.6	nominally separate, but actually part of the same organization, there are some hints that they
	...

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