I have just read the Michael Lewis book about SBF and rise and fall of crypto businesses Almeda research and FTX.
Michael Lewis definitely has a soft spot for SBF and I can see why, like any traditional run on a bank the timing of the collapse of FTX was crucial.
I agree there were some lack of controls that should have been something that was put in place early, but the business was growing so quickly (no excuse!).
The world of Crypto was and still feels one that is all about getting rich quick, abnormal gains are associated with abnormal risks.
To be fair to Michael Lewis he really gets to the heart of the characters and brings them to life much better than the scanning of news I had done on this actual subject.
One definitely to add to the library of mistakes!





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