Fraud - The Crypto King's Fall: Inside the FTX Collapse

Episode One examines the spectacular collapse of FTX, the cryptocurrency exchange that went from a thirty-two billion dollar valuation to bankruptcy in nine days. Maxwell Slate traces Sam Bankman-Fried's rise from MIT graduate to crypto billionaire, revealing how he cultivated an image as the responsible adult in cryptocurrency while secretly using eight billion dollars in customer funds to make risky bets at his hedge fund Alameda Research. The episode dissects the fraud's mechanics: complex corporate structures designed to confuse, political donations buying protection, effective altruism philosophy justifying theft, and celebrity endorsements providing borrowed credibility. When confidence finally broke, the house of cards collapsed instantly, leading to SBF's conviction and twenty-five year prison sentence.
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This content was created in partnership and with the help of Artificial Intelligence AI