I’m writing this post to help understand the community the impact of the FTX Crash on the image of SBF and EA.
The following information comes from a meeting of an amateur investor group a relative is in. Said relative is not involved in EA at all. In the meeting, the FTX Crash and SBF’s actions were a topic of discussion. The focus is not on EA, but on the economic implications of what happened. However, SBF’s EA commitments are mentioned, which is why I think it might be valuable to post those parts, if only slightly so.
English is not the language used in the meeting, I translated it myself, so mistakes are possible. I did try to ensure the way in which things are said is reflected in the translation. To be clear: I don’t endorse anything said here, nor do I agree or disagree with anything said here and I can’t say what parts of it are true and which aren’t.
The person who is responsible might end up in jail. That’s what would happen if this happened in the bank sector.
What he did is a pure scam. What he has accomplished, cannot be done without being smart or having a moral compass.
He invested a lot in media appearance. He hired YouTubers where he pushed hard on his image. An image he used to become the popular as well. He often pushed that he would give away millions, billions and be the most philantropic.
He knew that by not being transparent he could scam people. He used the money of his clients to invest in his own coin so he became rich himself.
Personally, I’m under the impression that they believe that he used EA as a PR stunt to enrich himself and that his end goal was not to donate. I don’t think that is true, but if many people believe it, I do think it can be especially harmful to the image of EA.
An Outsider’s View on the FTX Crash
I’m writing this post to help understand the community the impact of the FTX Crash on the image of SBF and EA.
The following information comes from a meeting of an amateur investor group a relative is in. Said relative is not involved in EA at all. In the meeting, the FTX Crash and SBF’s actions were a topic of discussion. The focus is not on EA, but on the economic implications of what happened. However, SBF’s EA commitments are mentioned, which is why I think it might be valuable to post those parts, if only slightly so.
English is not the language used in the meeting, I translated it myself, so mistakes are possible. I did try to ensure the way in which things are said is reflected in the translation. To be clear: I don’t endorse anything said here, nor do I agree or disagree with anything said here and I can’t say what parts of it are true and which aren’t.
Personally, I’m under the impression that they believe that he used EA as a PR stunt to enrich himself and that his end goal was not to donate. I don’t think that is true, but if many people believe it, I do think it can be especially harmful to the image of EA.