FTX Shenanigans update

Plus NYT interviewed SBF for 70+ Min 🤯

Author

Rohit Tangri
December 06, 2022

I'm back with another 30 seconds episode of "what's up with crypto" with Decrypto 30

(WTH?) Can’t believe FTX did This🤯

Farmington Bank

Google

It was confirmed during the bankruptcy hearing, That FTX invested $11.5M into a farmer's bank with just 3 employees.

  1. Farmington State Bank is the 26th smallest out of 4800 in the USA

  2. FTX owned 10% of the bank

  3. FTX investment was worth more than double the bank’s value ($5.7M)

New York Times interviewed the fallen crypto mogul SBF for over 70 Minutes

It was SBF’s first appearance since his fallen empire. Here’s what my eyes caught during the interview:

  1. He said he “didn’t knowingly commingle” FTX customer funds with those of Alameda Research, the exchange’s trading arm

  2. He denied he had knowingly committed fraud. “I did not ever try to commit fraud on anyone,” he said

  3. He said that he did not realize what a dangerous position the firms were in until it was too late.

  4. Read 4 more points from NYT

Alright! That’s it for today.

See y’all soon.

Rohit

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