ftx scandal

The founder of FTX, a spectacularly failed cryptocurrency exchange, is a curious character. He denies the stack of charges he faces in a New York court, but unpicking the cryptographic paper trail will be tricky. Crime in Britain is broadly in decline, with the notable exception of increasingly brazen shoplifting (10:24). And how a sports-media entrepreneur became a pizza-review star (15:57).

Additional audio courtesy South West News Service.

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Sam Bankman-Fried, the fallen golden boy of crypto, is going on trial for what prosecutors are calling the largest financial fraud in recent history.

David Yaffe-Bellany, a technology reporter for The Times, explains the case of the man who was supposed to save the cryptocurrency industry and what its outcome could tell us about why he did not.

Guest: David Yaffe-Bellany, a technology reporter for The New York Times.

Background reading: 

• A year ago, Sam Bankman-Fried was a fixture on magazine covers and in the halls of Congress. Now he’s fighting federal charges of fraud and money laundering.
• Crypto insiders are trying to distance themselves from Mr. Bankman-Fried by zealously seeking to hold him to account.

For more information on today’s episode, visit nytimes.com/thedaily. Transcripts of each episode will be made available by the next workday. 

Former President Trump holds a rally after being hit with more charges, President Biden finally acknowledges his seventh grandchild, and one of the charges against disgraced crypto currency mogul Sam Bankman-Fried is dropped. Get the facts first with Morning Wire. 

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Megyn Kelly is joined by Eric Bolling, host of The Balance on Newsmax, to talk about whether Kevin McCarthy will ever become Speaker of the House, Trump's statement supporting McCarthy and the lack of support for him, who could be the Speaker if not McCarthy, Sam Bankman-Fried's legal troubles ahead, SBF's theft and laundering, an update on the injured Buffalo Bills player, backlash over media coverage of him, and more. Then Dr. Shanna Swan, author of "Count Down," joins to discuss the alarming decline in sperm count and testosterone in men worldwide, how the trends are getting worse, the decline in sperm quality, the significance of "phthalates" on low fertility and declining sperm counts, how phthalates in plastic can also cause other health issues, the fertility rate difference between countries, how men in different locations can have massive differences in sperm count and quality, what you can do to reverse the trends, and more.

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During his time as a restaurant critic for The Times, Pete Wells has become both feared and revered in the world of dining — crowning those at the top and dethroning those whose time has passed.

But when the pandemic arrived, handing out stars to fancy restaurants made no sense anymore. A fundamental change was needed.

Guest: Pete Wells, a restaurant critic for The New York Times. 

Background reading: 

• For the return of The Times’s star ratings this year, Pete Wells visited La Piraña Lechonera, a weekend party in a Bronx trailer where one man serves up the rich flavors of Puerto Rico.

For more information on today’s episode, visit nytimes.com/thedaily. Transcripts of each episode will be made available by the next workday. 

Krystal and Saagar discuss Zelensky's demands during his visit to Washington, SBF's girlfriend Caroline Ellison flipping, Nordstream Investigations find no Russian Evidence, Elon revealing when he will step down from Twitter, MAGA Civil war erupting between MTG and Lauren Boebert, Trump's Tax Returns, Senator Elizabeth Warren taking on Wells Fargo, and the extent of our aid in Ukraine.

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The year of the “mini-Musk” chief executive, the end of homework as we know it, a crackdown on TikTok and other predictions for 2023.

Also, Sam Bankman-Fried’s arrest and answers to our listener questions.

On today’s episode:

• David Yaffe-Bellany, a cryptocurrency and financial technology reporter for The New York Times.

Additional reading:

• Bankman-Fried, the former chief executive of FTX, was arrested and denied bail by a judge in the Bahamas. Prosecutors accused him of engaging in widespread fraud.
• John J. Ray III, the new chief executive of FTX, described an “unprecedented” lack of record keeping at the company.
• Scientists used a quantum computer to simulate a pair of black holes.

Bankless Weekly Rollup
2nd Week of December 2022

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🦁 BRAVE | THE BROWSER NATIVE WALLET
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📡 TRUEFI | CRYPTO FINANCIAL HUB 
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0:00 Intro

4:05 MARKETS
7:15 Inflation
https://twitter.com/tier10k/status/1602657168368484353
9:14 Has Inflation Peaked?
https://twitter.com/JustinWolfers/status/1602657570283573248
12:05 Stop Raising Rates
https://twitter.com/SenWarren/status/1572659264560435201
14:00 Fed Keeps Hiking
https://www.bloomberg.com/news/articles/2022-12-14/fed-downshifts-to-half-point-hike-sees-5-1-rate-next-year
17:14 Living at Home
https://twitter.com/zerohedge/status/1601401345948483586
17:55 Zombie Firms
https://twitter.com/eliant_capital/status/1601629575686983680
19:25 Crypto Price Action
https://twitter.com/pythianism/status/1600895603512180737

25:00 SBF ARRESTED
https://www.reddit.com/r/StockMarket/comments/zlftnb/breaking_footage_of_sbf_arrest_in_the_bahamas/
Release: https://pbs.twimg.com/media/Fj0LbkRXoAIIzQY?format=jpg&name=large
28:00 No Bail
https://blockworks.co/news/no-bail-for-bankman-fried-leaves-bahamas-court-in-handcuffs
Charges - https://twitter.com/TrustlessState/status/1602469313662812160
31:00 CFTC vs SBF
https://twitter.com/tier10k/status/1602670346573938689
34:24 Tom Emmer Take
https://twitter.com/bittybitbit86/status/1602715577067372544
36:40 Tom Emmer vs Gary Gentler
https://twitter.com/bittybitbit86/status/1602719629172166656
38:50 Worst Take of the Year
https://twitter.com/WatcherGuru/status/1603067377972920322
41:30 Hopefully Next
https://twitter.com/sassal0x/status/1602458316252549120

42:15 The Block and SBF
https://www.axios.com/2022/12/09/bankman-fried-funded-crypto-news-site-block

47:30 Binance Bank Run
Justice Department - https://www.theblock.co/post/193988/justice-department-weighs-charging-binance
Nic Carter - https://twitter.com/nic__carter/status/1600939364145541120
Auditor - https://mishtalk.com/economics/binances-alleged-crypto-audit-failed-not-even-its-auditor-would-vouch-for-it
ATH Outflow - https://twitter.com/dylanleclair_/status/1602704506172706816
Bank Run - https://twitter.com/nic__carter/status/1603088552598048768

53:30 ETHEREUM NEWS
MetaMask x PayPal - https://twitter.com/MetaMask/status/1603087496182743040
EIP 4844 - https://twitter.com/liamihorne/status/1601261769682743298
Optimism - https://twitter.com/MSilb7/status/1602854762550026241
Layer 2 - https://twitter.com/mhonkasalo/status/1602737363012157442
Phi - https://twitter.com/phi_xyz/status/1603330614429507584
MakerDAO - https://decrypt.co/117070/defis-central-bank-makerdao-relaunches-1-fixed-yield-dai-holders
OFAC - https://twitter.com/sassal0x/status/1601021184367161345

1:02:40 Trump NFTs
https://truthsocial.com/@realDonaldTrump/posts/109518512543023262
1:04:50 Celebrity Bored Ape Lawsuit
https://www.hollywoodreporter.com/business/business-news/celebrity-promoters-sued-over-bored-ape-nft-endorsements-1235279115/
1:10:28 Bankless Collectibles
https://collectibles.bankless.com/

1:12:00 3AC Vaporized 1 Trillion
https://nymag.com/intelligencer/article/three-arrows-capital-kyle-davies-su-zhu-crash.html
Burn it - https://twitter.com/TrustlessState/status/1603389490659147776
Copies - https://twitter.com/nic__carter/status/1602372083073392643

1:16:13 The Worst Bill Ever
https://twitter.com/RyanSAdams/status/1603052999282147328
The Bill - https://www.warren.senate.gov/imo/media/doc/DAAML%20Act%20of%202022.pdf
Chervinsky - https://twitter.com/jchervinsky/status/1603065495636398081

1:19:30 Raises
BlockNative - https://www.coindesk.com/business/2022/12/15/web3-infrastructure-firm-blocknative-raises-15m-for-ethereum-block-building-market/
Aztec - https://medium.com/@aztecnetwork/dd5062ba949c

1:23:00 TAKES
Proof of Reserves - https://twitter.com/RyanSAdams/status/1602430509379948544
DeFi Innovation - https://twitter.com/pythianism/status/1603080901503713281
UX - https://twitter.com/0xfoobar/status/1602890641926668291
New Dawn - https://twitter.com/TrustlessState/status/1603409968480264192

1:27:15 What David’s Bullish On
1:29:35 What Ryan’s Bullish On

1:31:50 MEME of the Week
https://twitter.com/Cryptofung/status/1601341195778949120
https://twitter.com/CryptoUB/status/1603037274836434944

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Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures

In today's episode, Andy & DJ discuss Sam Bankman-Fried claiming he cannot testify on FTX as he's still learning and reviewing what led to the collapse of the Cryptocurrency exchange company, China's unofficial police stations set up worldwide including 4 in the United States, and Elon Musk's claiming that the risk of his assassination is quite significant.

The collapse of the Sam Bankman-Fried empire is gigantic, sprawling and fast moving. While details are still coming out, it already ranks among the most prominent corporate disasters of all time and has left the entire crypto community reeling. To better understand the role that FTX played in the industry and how the exchange started to unravel, we speak with two guests on this episode. First, we have Evgeny Gaevoy, the founder and CEO of the crypto market-making firm Wintermute, to explain how he used the FTX platform and how he understood its relationship with SBF's trading firm, Alameda Research. Then we speak with independent researcher James Block, author of the Dirty Bubble Media newsletter, and one of the first observers to blow the whistle on the FTX disaster.

Stay tuned. On Friday, we'll have a special follow-up interview with Bloomberg Opinion's Matt Levine, who also appeared with Sam Bankman-Fried on the now-infamous “yield farming” episode of Odd Lots in April 2022.

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