The Path to Glory | Advent | Luke 1:39-56
Ten Minute Bible Talks Devotional Bible Study
Ten Minute Bible Talks
4.8 • 1.1K Ratings
🗓️ 15 December 2022
⏱️ 8 minutes
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| 0:00.0 | Welcome to 10 minute Bible Talks, where we connect the Bible to your life in the time it takes to get to work. |
| 0:10.5 | I'm Patrick Miller. Sam Bankman-Fried's life has turned from riches to rags, |
| 0:17.5 | kind of the opposite of the normal story, right? As the CEO of the |
| 0:21.0 | cryptocurrency exchange FTX, he reached a peak value of $26 billion. |
| 0:28.6 | But after FTX's cryptocurrency crashed, Sam resigned and FTX declared bankruptcy and now he's left |
| 0:35.2 | with only a measly 991 million dollars. Okay, maybe this actually isn't |
| 0:41.4 | riches to rags, |
| 0:42.6 | it's just riches to less riches. |
| 0:44.2 | Anyways, let's keep going. |
| 0:45.4 | But the entire disaster, it happened because |
| 0:47.9 | Sam Bateman fried was transferring funds out of FTX |
| 0:52.0 | into Alameda research, and that was a cryptocurrency |
| 0:55.0 | trading firm that specialized in arbitrage but in the end it just lost |
| 0:59.5 | enormous amounts of cash and it turns out that Sam was transferring not only his own capital, |
| 1:05.6 | but the capital of people trusting FTX to hold their |
| 1:08.5 | cryptocurrency for them. |
| 1:10.1 | He was transferring it all over to Alameda Research and then that result was that both companies folded and people lost billions of dollars. |
| 1:19.0 | So some would say that Sam defrauded these people. |
| 1:22.0 | Others would just say that Sam was terribly |
| 1:24.7 | negligent, but not criminally negligent. Others would say that the only reason Sam Bankman |
| 1:30.3 | Fried hasn't been prosecuted is because he gave a ton of money to political figures. |
| 1:35.6 | Well, I guess I don't know what's really true. I'm not an expert in any of these things. |
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