Michael Lewis Explores the Story of FTX Founder Sam Bankman-Fried
Renowned author Michael Lewis is currently promoting his latest book, which delves into the life of Sam Bankman-Fried, co-founder and former CEO of FTX. In a recent interview on “60 Minutes,” Lewis discussed various aspects of Bankman-Fried’s journey.
The Success and Challenges of FTX
Lewis acknowledged that FTX had a legitimate business and could have continued making significant profits if it hadn’t faced criticism and a run on customer deposits. He highlighted Bankman-Fried’s focus on pandemic prevention, effective altruism, and addressing threats to democracy. Lewis even mentioned that Bankman-Fried considered offering Donald Trump $5 billion to withdraw from the election.
Bankman-Fried’s Quirks and Connections
In the interview, Lewis noted that during Bankman-Fried’s first television appearance, he was playing a video game throughout. Despite this quirkiness, Bankman-Fried formed a close bond with football legend Tom Brady, who found him interesting to talk to.
Critics Challenge Lewis’ Perspective
However, many viewers disagreed with Lewis’ portrayal of FTX as a legitimate business. Some argued that FTX was supposed to have its users’ assets backed 1:1 at all times and accused it of fraud. Critics called Lewis’ statements “insane” and questioned why he would defend Bankman-Fried.
Bankman-Fried’s Fear of Losing Internet Access
When asked about Bankman-Fried’s greatest fear if sentenced to 100 years in jail, Lewis revealed that losing internet access terrified him the most. According to Lewis, Bankman-Fried believes he could survive in jail as long as he has internet access.
Hot Take: The Controversy Surrounding Michael Lewis’ Perspective on FTX
This week, Michael Lewis has been generating buzz with his new book, which explores the rise and fall of FTX’s Sam Bankman-Fried. While some praise Lewis for shedding light on Bankman-Fried’s endeavors, others criticize him for overlooking the alleged fraudulent practices of FTX. The debate continues as to whether FTX was a legitimate business or a scam. Regardless, Lewis’ interview has sparked discussions about the complexities of the cryptocurrency industry and the role of prominent figures within it.
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