I got excited last week watching things unravel for SBF and FTX. It’s hard not to get excited when someone/some org goes from being worth $16B to $0 in the matter of a few days. It’s a story that reminds me of something between the Big Short, Theranos, and Enron.
This isn’t even the end of the story, as far as I can see. I suspect we will find out more in the next few weeks. I also suspect it won’t be pretty. It will definitely be interesting.
Meanwhile here are some good pieces covering the story for anyone interested:
- The WSJ lays out how FTX’s Sam Bankman-Fried went from Crypto Golden Boy to Villain.
- The New York Times dives in.
- A good explainer from VOX as well.
- A good comparison of FTX to Enron. I think this will become more and more apt.
- Meanwhile, closer to home: Ontario Teachers’ Pension Plan (OTPP)invested $95M in failing cyrpto platform FTX.
- In addition, here is his wikipedia page (where the image is from.)