"This Collapse Is Way Bigger Than SBF" | Chamath Palihapitiya Reacts to FTX

The developing story of FTX and Sam Bankman-Fried is playing out like a Netflix documentary with each day being a new episode in real time. Crypto Twitter has alleged that Sam Bankman-Fried was on the run and tried to flee to South America. Others believed he tried to flee to Dubai. Cointelegraph reported that Bahamian authorities have Bankman-Fried and 2 other executives “under supervision.” Reuters reported that they reached out to SBF to ask him via text if he left the Bahamas. He said “Nope”. After lying to his followers continually on Twitter about anything pertinent to FTX, it would be very hard to imagine him answering “Yes, I’m on the run”. More and more high-level people are sharing their experiences with SBF and looking back for any red flags, and what they might have missed. Elon Musk took to Twitter to confirm a story about SBF investing $3 Billion into Twitter. Elon said that SBF set off his BS detector. As a guest on the All-In podcast, Brian Armstrong also suggested something was off when he compared Coinbase’s revenues to that of FTX but for whatever reason, SBF had substantially more cash for donations, corporate buyouts, etc.. being heralded in the media as the ‘White Knight’ of Crypto. In his all-in podcast, Chamath Palihapitiya also shared his own experience with Bankman-Fried, but instead of focusing on SBF, Chamath went deeper into the subject and believes there’s a systemic issue at hand that needs to be dealt with immediately.

Chamath Palihapitiya is a Sri Lankan-born Canadian and American venture capitalist, engineer, SPAC sponsor, founder and CEO of Social Capital. Palihapitiya was an early senior executive at Facebook, working at the company from 2007 to 2011. Following his departure from Facebook, Palihapitiya started his fund, The Social+Capital Partnership, through which he invested in several companies, including Yammer and Slack. He is a co-host of technology podcast All In. Chamath has an estimated net worth of around US$1.2 billion, ranking him 2,378th in the Forbes list of Billionaires 2021.
► To watch the full interview:

Be the first to comment