Harmony - ONE

One INSANE Risk Took Down His Crypto Empire

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Flawed decision-making caused FTX to collapse. Visit https://brilliant.org/Newsthink/ to start learning STEM for FREE, and the first 200 people will get 20% off their annual premium subscription.

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The interviews and footage aired in the story constitute Fair Use for editorial and reporting purposes. Other elements were purchased by Newsthink Ltd. or fall under a creative commons license in which re-use is allowed.

Thumbnail source:
Sam Bankman-Fried image sourced from @ftx_official on Instagram

Image sources:
0:26 Interview with Mercatus Center (creative commons license – re-use allowed) https://www.youtube.com/watch?v=T3mFAZCEp8A
2:02 Images of FTX co-founders sourced from FTX website
2:44 350z33, CC BY-SA 4.0 https://creativecommons.org/licenses/by-sa/4.0 via Wikimedia Commons
2:46 Gatorfan252525, CC BY-SA 4.0 https://creativecommons.org/licenses/by-sa/4.0 via Wikimedia Commons
2:48 Phillip Pessar, CC BY 2.0 https://creativecommons.org/licenses/by/2.0 via Wikimedia Commons
2:55 Broll courtesy of Cointelegraph (creative commons license – re-use allowed) https://www.youtube.com/watch?v=EsmhjNtlT_Y
3:41 Caroline Ellison image sourced from Liquid https://blog.liquid.com/women-in-crypto-caroline-ellison
7:50 Changpeng Zhao image: Aevozer, CC BY-SA 4.0 https://creativecommons.org/licenses/by-sa/4.0 via Wikimedia Commons
8:36 Bankman-Fried image sourced from Alamy (Newsthink Ltd. is a registered client)
8:39 Gage Skidmore, CC BY-SA 2.0 https://creativecommons.org/licenses/by-sa/2.0 via Wikimedia Commons
8:42 Michael Stokes, CC BY 2.0 https://creativecommons.org/licenses/by/2.0 via Wikimedia Commons

Articles
referenced:
Coindesk article on FTX executives dating each other https://www.coindesk.com/business/2022/11/10/bankman-frieds-cabal-of-roommates-in-the-bahamas-ran-his-crypto-empire-and-dated-other-employees-have-lots-of-questions/
Coindesk article on ties between FTX and Alameda https://www.coindesk.com/business/2022/11/02/divisions-in-sam-bankman-frieds-crypto-empire-blur-on-his-trading-titan-alamedas-balance-sheet/
Reuters reporting on the FTX scandal: https://www.reuters.com/technology/exclusive-behind-ftxs-fall-battling-billionaires-failed-bid-save-crypto-2022-11-10/
Reuters article on the missing $1 billion customer funds https://www.reuters.com/markets/currencies/exclusive-least-1-billion-client-funds-missing-failed-crypto-firm-ftx-sources-2022-11-12/

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48 Comments

  1. DId you see that mf describe the whole scam.
    All crypto is the same con .
    Fluff it up and find some fools to buy it .

  2. he lost nothing don't say he lost investors lost the money he steal the money the money was not belong to him so am trying to correct you typical thieve majority of them are jews masters of deception

  3. He stole the people’s money. Manipulated the market. Created false coins. he should be locked up

  4. He never had the money in the first place it's all a scam in the eaghtys it was pyramid schemes then Enron ponsy Berny madeoff a hole slu of crap why do you think Biden gave Ukraine a billion they filtered it through this guy back to there own pockets it will all come out in the end though

  5. You forgot about Crypton! After all, even in the collapse of the cryptocurrency market Crypton did not fall in price. And you can mine it on very favorable conditions in Utopia p2p ecosystem.

  6. Money laundering – taxpayers money goes to Zelensky in Ukraine then Zelensky buys FTX and sends it back to the Democrats

  7. I appreciate how you always do a concise yet comprehensive overview of these events – your information is well-researched but you leave out the unnecessary fluff!

  8. He said sorry because he failed and not because he secretly transferred user funds with out people knowing.

  9. Okay.. I don't really have much to say but everything said here about LOATEDCYBER is really true,l wouldn't be here if not for the outstanding job he done for me…..Nice mate…..

  10. Okay.. I don't really have much to say but everything said here about LOATEDCYBER is really true,l wouldn't be here if not for the outstanding job he done for me…..Nice mate…..

  11. He deserves everything he's facing and much more. Lying and defrauding customers out of billions and using that money to shill for corrupt politicians. I hope he goes to prison for a long long long LONG time

  12. 👆am so far away from how much this guy really wants to help people as much as he enjoys messing with scammers. Thanks for being nice to us loatedcyber…….

  13. What we can learn from FTX scandal –

    1. Never play with your customers money.

    2. If you have multiple companies, keep their wealth and assets independent of each othe other so that even when one company faces economic problem, the other one can keep going as if nothing happened.

  14. He should go to jail for stealing everybody’s money this is worse than Emron he must be held accountable for every money

  15. Fuck crypto, this is my awnser after 12 years of experience in financial markets. 🤬🤬🤬

  16. Rule one of crypto: never hold on an exchange. They’re there to buy and sell, not store. Almost every exchange has had some sort of breach with lots of “lost” funds. Cold wallets are the safest bet but I’m sure many folks just jumped on the crypto bandwagon without understanding what they’re doing and simply didn’t know better.

    I’d still be willing to bet that he knows exactly where the “money” went.

  17. Imagine a digital bank heist for a minute!
    .
    .
    .
    What's there to chase?
    There isn't no getaway vehicle, no vault, no bank teller, no armed robber, no video footage, no bag, NO money!

    What if the hackers are…. the cómplices?🤣

  18. A perfect scam!

    Voyager received a bailout just to declare bankrupt! 🤔

    Now this virtual digital currency is gone but the real dollars deposits aren't neither are available nor accessible.

    Cryptocurrency is just digital money laundering!

  19. Sam fried seemed like he had no idea what the heck was happening. He wasn't a seasoned administrator or executive. This whole narrative about a young inexperienced guy in a hoodie with his laptop shaking up the world has everyone looking for such types.
    Cryptocurrency is fake and empty. It's an expensive hobby for people who have lots of money to throw away

  20. SBF should definitely be charged because he built software in stealing clients money and did not
    have good governance and procedures. Of these would be useless, as CEO he did what wanted to do : enhance his own status and wealth. Luckily, both of his parents are lawyers and he should get break in fees.

    He caused a lot of grieve and harm, he should go to jail. This should serve as deterrence to others.

  21. The long hair was to hide strange ears. Interestingly he was involved with Ukraine. That's where the real story gets complicated.

  22. Super snake oil salesman, protected by the very corrupt wealthy, nepotism, zelensky.
    Oh and the simple fact that he knows where the money is and being from , shall we say of a cult, that cannot be named will of course be kept from the hands of the feds, by uncle BiBi.

    Best of all, those that like to call anyone mistrusting of these magic beans as 'boomers', well, now you have nothing, lost it all to one of your own…

  23. A lot of fraudsters give away money. I think it allows them to sleep at night. Doesnt make it right through. And they should still go to jail forever.

  24. Why???? One visit to their offices ( that resemble frat house) should have given the " investors" ( they were gambling, not investing) a clue.

  25. The Name says it All – UNCLE SAM BANKMAN-FRIED '. Nothing else matters. Everybody got taken for the Ride of their Lives.

  26. Worship Money=7 Years of Tribulation
    Worship Messiah=7 Years in Heaven
    [Born-again RETURN in 2nd Coming 4 a Millennium]

  27. Sam Bank Fried and his mob of evil kids aren’t bankrupt ladies and gentlemen. The money were carefully stashed. FTX is bankrupt but not SBF and his gang.

  28. BUUUUUUUULLSHIT!!!! .. THIS COULD BE A BIG $$$ LAUNDERYING SCHEME .. BC SBF IS AUTISTIC .. THE TOM BRADY VIDEO THAT SHOWS SBF HAVING ONE OF HIS AUTISTIC SPASMS, SEEMS TO HAVE DISSPPEARED FROM THE INTERNET .. O/WISE, THOSE ATHLETES AND OTHERS` MONEY WAS BEING FRONTED TO THE DNC, WHO FORWARDED IT TO UKRAINE AS AID AND, THEY DID WHAT THEY NEEDED TO DO, AND SENT THE REST BACK, AND/OR WHO KNOWS WHAT HAPPENED TO IT AT ALL ??? ……

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