SBF's Worst Week Yet
What Next | Daily News and Analysis
Slate Podcasts
4.3 • 2.4K Ratings
🗓️ 16 December 2022
⏱️ 41 minutes
🧾️ Download transcript
Summary
Even in a crazy year for crypto, Sam Bankman-Fried’s story is undeniably the most bananas. And even in the context of the implosion of FTX, getting arrested has got to make this week his worst yet. What charges does SBF face?
Guest: Stacy-Marie Ishmael, managing editor on crypto for Bloomberg News
Host: Lizzie O’Leary
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Transcript
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| 1:10.0 | Stacey Marie ischmale is no stranger to covering white collar crime. She's seen companies implode and executives go to prison. |
| 1:25.0 | But even she found the speed with which FTX collapsed and Sandbackman freed was arrested to be dizzying. |
| 1:32.0 | I think that looking at the timing from filing for bankruptcy or even forget filing for bankruptcy, |
| 1:39.0 | saying alluding to the fact that they were potentially in distress, potentially having takeover conversations with Binance to then filing for bankruptcy, |
| 1:49.0 | and then in the space of about a month after that being taken under arrest. |
| 1:55.0 | So that does strike me as an unusually quick process. |
| 2:00.0 | Stacey Marie is the managing editor for crypto at Bloomberg News. And in a crazy crypto year, |
| 2:06.0 | SPF story is undeniably the most bananas. |
| 2:10.0 | I've often made the joke that a lot of what happens in crypto can feel like it's running at the rate of virality. |
| 2:19.0 | That you know something is huge now or trending right now and then you know two seconds later, |
| 2:24.0 | nobody's talking about it or vice versa. And as a result of that, the past 12 months has sometimes felt like speed running the financial crisis of 2008, |
| 2:33.0 | where folks would start to have worries about accountipotty or think, hmm, I'm not even sure what is behind the assets of this particular thing or like how highly rated those assets are. |
| 2:45.0 | But that would take months to work its way through the system. |
| 2:50.0 | And in crypto we're seeing it take not even days in some cases just hours. |
| 2:54.0 | In this case, it took just nine days for FTX to go under. |
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