Name: Can SBF make a comeback?
Uploaded: 2022-11-11T00:55:05+00:00
Duration: 5 min 57 s
Description: Is there any other realm where someone can go from hero to zero so quickly? This year we’ve already seen many crypto “messiahs” fall hard from their place atop the totem pole--and each time it seems t

1 year ago

Is there any other realm where someone can go from hero to zero so quickly?

This year we’ve already seen many crypto “messiahs” fall hard from their place atop the totem pole--and each time it seems the fall couldn’t be any harder. But then it somehow happens again--a seemingly untouchable figure in the space completely capitulating in the blink of an eye.

As anyone who has been following the FTX saga will know, the latest crypto demi-god to fall is Sam Bankman-Fried, aka SBF--the soft-spoken 30-year-old billionaire who has long been idolized for his frugal lifestyle and his “for-the-people” ideals. Now that SBF has admitted to single-handedly destroying the third biggest crypto exchange in the world, is there any hope left for him and all the people whose funds have been lost by a bankrupt exchange?

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0:00 Hero to Zero
0:50 The story so far
1:33 SBF: I'm sorry.
2:22 FTX using user funds
3:06 "Effective Altruism"
4:13 It wasn't mismanagement...
4:59 This isn't the end
5:16 Binance wallets
5:32 Not your keys, not your cheese