Sam Bankman-Fried’s Wild Schemes Revealed in New Book
Sam Bankman-Fried, the founder of FTX cryptocurrency exchange, is currently on trial for fraud and money laundering. While he denies the charges, a new book by Michael Lewis called “Going Infinite” explores the rise and fall of SBF. Here are some of the outrageous schemes detailed in the book.
A $5 billion offer to dissuade Trump from running
In an interview with CBS’s “60 Minutes,” Lewis revealed that SBF planned to offer $5 billion to former President Trump to prevent him from running in the 2024 presidential race. This was due to concerns that Trump would further undermine democracy in the U.S.
Failed attempt at political manipulation
SBF spent $12 million trying to back Carrick Flynn’s Democratic primary campaign in May 2022 but failed. Flynn was seen as someone who could address existential threats such as pandemics and AI. However, SBF’s attempt to buy a seat in Congress for this purpose was unsuccessful.
Paying off the Bahamian national debt
According to the book, SBF met with the prime minister of the Bahamas to discuss paying off the country’s $10 billion national debt. This move was intended to improve the island’s infrastructure and make it more attractive for FTX employees.
Morgan Stanley loan for Elon Musk’s Twitter acquisition
The book reveals SBF’s plan to request a $1 billion loan from Morgan Stanley to invest in Elon Musk’s Twitter acquisition. The intention was to use FTX’s FTT token as collateral for the loan.
Controversy surrounding the book
Michael Lewis has been accused of portraying SBF sympathetically in his biography, with some arguing that it downplays SBF’s alleged criminal intent. The book has sparked debate about whether SBF was an idealistic entrepreneur or a fraudster orchestrating a massive financial scam.
Hot Take: Examining the Outrageous Schemes of Sam Bankman-Fried
The new book by Michael Lewis sheds light on the wild and audacious schemes of Sam Bankman-Fried, the founder of FTX. From offering $5 billion to dissuade Trump from running for president to attempting political manipulation and discussing paying off a nation’s debt, SBF’s actions have raised eyebrows. However, the book’s portrayal of SBF has sparked controversy, with some arguing that it portrays him sympathetically. Regardless, the revelations in “Going Infinite” offer a fascinating insight into one of the most prominent figures in the cryptocurrency world.
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