On one or two occasions, Bankman-Fried, who made billions arbitraging cryptocurrency prices in Asia beginning in 2017, said he has used his own cash to backstop failing crypto companies when it didn’t make sense for FTX to do so.
“FTX has shareholders and we have a duty to do reasonable things by them and I certainly feel more comfortable incinerating my own money,” he said.
Since when do people go to such lengths (including their own personal cash!) to bail out other people’s Ponzi schemes or securities fraud?
Other interesting essays to consider: https://ez.substack.com/p/the-consequences-of-silence?sd=pf
https://coingeek.com/tether-links-to-questionable-market-makers-yet-another-cause-for-concern/
This NY Post story also struck me as odd: https://nypost.com/2022/07/06/sam-bankman-fried-has-few-billion-to-help-crypto-industry/
Since when do people go to such lengths (including their own personal cash!) to bail out other people’s Ponzi schemes or securities fraud?