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Inside Sam Bankman-Fried’s FTX Empire Before It Collapsed
Posted
August 4, 2023
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0:48Now PlayingSam Bankman-Fried spoke frequently about the beanbag he slept on in the office. He talked less about his naps on the private plane.
In the months since Bankman-Fried was charged with running a massive crypto fraud, US prosecutors and legions of reporters have begun parsing his every word (and deed) to expose gaps between his public persona and what really went on behind the scenes. He really did sleep in the beanbag chair, but he also had access to the jets his company chartered and a $30 million penthouse it owned at an exclusive resort in the Bahamas.
Bankman-Fried is scheduled to face a criminal trial on Oct. 2 over charges he misused billions of dollars in customer deposits. Federal prosecutors have accused him of indulging in luxuries purchased with stolen money. He has said he didn’t commit fraud and that the missing money was a mistake.
Bloomberg obtained a cache of photos and video taken in the final year before Bankman-Fried’s companies, FTX and Alameda Research, went into bankruptcy. They offer an intimate look at the lives of Bankman-Fried, who declined to comment on them, and his inner circle at their peak — hosting parties and schmoozing with political figures and billionaires. It also captures the peculiar indulgences of a math geek turned crypto kingpin.
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