A lot of not-so-nice (but well-deserved) words have been used to describe former FTX head Sam Bankman-Fried recently: Criminal, fraud, and liar are just a few that come to mind.
But before his incredibly public blow-up, which wiped out people across the globe, Sam Bankman-Fried was heralded by the Establishment Media as a “White Knight” and “JPMorgan” of Crypto.
Backing up a bit…
As much as $10 billion in FTX client money was transferred from FTX to Sam Bankman-Fried’s ailing hedge fund, Alameda Research, in a desperate attempt to keep the fund alive. (Quick aside. When fundraising for the launch of Alamaeda in 2018, the fund purported to offer “high returns with no risk.” Something that’s literally never been true in the history of financial markets.)
Despite his fall from grace and “alleged” criminal activity, Bankman-Fried isn’t behind bars. Yet.
In fact, this week he’s been on a glitzy Establishment Media tour. It started yesterday with “journalist” Andrew Ross Sorkin interviewing SBF at a New York Times event. It’s all somewhat surreal.
In the video clip above from The Call @ Hedgeye, our research team responds to yesterday’s absurd/mind blowing/head scratching interview with SBF.
As one of our analysts said, it felt like he was eating “crazy pills” as he watched.
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