• The View from Inside: How we survived Sam Bankman-Fried (House of Cards, Part 2)

  • Nov 21 2022
  • Length: 55 mins
  • Podcast

The View from Inside: How we survived Sam Bankman-Fried (House of Cards, Part 2)

  • Summary

  • 0:00 Introduction to this Episode. A Picture is Painted about Sam Bankman-Fried

    6:01:00 Initial Reactions from the fall of SBF and FTX

    9:19:00 Closer to SBF, FTX, Alameda than 99% of people that are in Crypto

    9:57:00 Uniquely Positioned to Lose Everything because should have trusted Sam more than anyone else

    11:04:00 Sam being eerily quiet was the first red flag

    14:19:00 Something's not right, I'm getting out of here...

    15:20:00 Alan's THREE Close Calls in 2022, Celsius, BlockFI, FTX

    19:04:00 Reflecting upon the Cycle -- What went well, what didn't?

    19:59:00 Insulating against Alameda

    20:23:00 Path Crypto, An Alameda Portfolio Company...

    21:04:00 How long have you had a relationship with SBF?

    22:09:00 How did that relationship develop from getting to know SBF to where Alameda invested in Stacked (Path)?

    24:26:00 One of the First 10 Equity Investments of Alameda (out of over 400 to date)

    26:40:00 Alameda stopped being involved and responding to investor updates, one of the only investments that doesn't have a token

    27:44:00 Didn't have a token, but Alameda was applying pressure to start a token due to immediate liquidity.

    28:29:00 Alameda wanted to Treasure our Money, wanted to take our Money and pay us Interest!!

    28:47:00 Pressured to take initial round in FTT, not USD

    29:34:00 Sam advised to take in FTT, and open a sizeable short on ETH to hedge...when ETH was $320

    30:59:00 A very different experience with Alameda than most because Path did not launch a token

    31:49:00 How hard was it to say no to SBF about launching a token?

    32:34:00 8 to 10 hours of direct discussion with Sam about launching a token

    33:24:00 Sam was advising them to create shell companies to evade regulatory issues and launch a token

    38:41:00 A thousand times, Path could have given in, but stayed the...Path?

    40:14:00 Greater duty to do the right thing with other people's money

    40:34:00 How do VCs get their money? LPs, Limited Partners

    42:55:00 Not all FTX Employees are Guilty, remember that. Sam duped them too

    47:29:00 Most people had no idea this was going on, Brett Harrison, former CEO of FTX.us among them

    49:14:00 Sam made a terrible decision that impacted 6m+ people out of greed and hubris, which started with Terra LUNA

    51:19:00 A silver lining for the future.

    54:05:00 Morality wins the day

    --- Support this podcast: https://podcasters.spotify.com/pod/show/cryptoparabellum/support
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