This week, we focus on the collapse of FTX, a former crypto exchange worth multiple billion dollars, which declared just last year that it would be the company to ‘save’ crypto from extreme fluctuations, fraud, schemes etc. Sam Bankman-Fried, the 30 year old former CEO of FTX, was hailed as the next Warren Buffett, met with Bill Clinton and Tony Blair, and was extremely influential in government and policy circles in promoting cryptocurrency. He even stated that FTX could eventually buy Goldman Sachs.We talk to Jacob Silverman, a journalist who has long warned about the fraudulence inherent in crypto, about how we got here, what SBF’s rise and fall tells us about the crypto/web3 economy, and whether the collapse of FTX is the final death knell for any use-case for crypto, other than to do scams.

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Further reading:

https://www.vox.com/future-perfect/23462333/sam-bankman-fried-ftx-cryptocurrency-effective-altruism-crypto-bahamas-philanthropyhttps://nymag.com/intelligencer/article/sam-bankman-fried-ftx-bankruptcy-what-happened.html

https://www.vice.com/en/article/dy7epm/sam-bankman-fried-was-supposed-to-be-different-he-wasnt

https://newrepublic.com/article/168991/ftx-effective-altruism-bankman-fried-climateƒ

https://newrepublic.com/article/162448/bitcoin-price-drop-market-clubhouse

https://newrepublic.com/article/161894/bitcoin-digital-wallet-currency-surveillance

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Ten Thousand Posts is a show about how everything is posting. It's hosted by Hussein (@HKesvani), Phoebe (@PRHRoy) and produced by Devon (@Devon_onEarth).