Before this month, very few people anticipated that Sam Bankman-Fried would be exposed as a fraud playing fast and loose with customer money. But reviewing some of his interviews from the past year reveals a few clues hiding in plain sight
After the BlockFi and Voyager bailouts, CNBC introduced Sam Bankman-Fried in an interview segment as the “J.P. Morgan of crypto” and the “Michael Jordan of crypto.” In the conversation, he explained that the goal of the purchases was to stop “contagion” from spreading in crypto — “stopping it from being the case that anyone who transitively did business with any chain of people who did business with one of the troubled assets themselves became troubled.
“No one knew how much risk was in that system until it all fell apart,” he said of the financial crisis. Bankman-Fried then compared that to FTX, where there is “complete transparency.”
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