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"The Devil In Nerd’s Clothes"
Article

"The Devil In Nerd’s Clothes"

How Sam Bankman-Fried’s Cult Of Genius Fooled Everyone

Forbes, 2022


Editorial Rating

8

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Recommendation

Once lauded as a master in the sphere of cryptocurrencies, Sam Bankman-Fried, CEO of crypto exchange FTX, now finds himself under arrest and indicted on criminal fraud charges. But just months earlier, Bankman-Fried was flying high, with investors championing his crypto acumen and his philanthropic ambitions. In this engrossing narrative of the rise and fall of FTX, journalists David Jeans and Sarah Emerson explore the labyrinth of greed, lies and fraud that Bankman-Fried built.

Take-Aways

  • Sam Bankman-Fried (SBF) engineered stunning results in cryptocurrency trading, only to see his empire collapse amid reckless and allegedly criminal behavior.
  • SBF created a public persona based on returns, philanthropy and politics.
  • With FTX and Alameda, SBF directed both proprietary and customer trading, which created conflicts of interest.

About the Authors

David Jeans and Sarah Emerson are staff reporters at Forbes.


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