Chapter
The Design of Financial Scams
24:22 - 32:00 (07:38)
SPF had designed a complex scheme of obfuscation and misinformation to an extent that no one could understand. The scheme was purposely designed to mislead the investors and conceal the illegitimate activities of the firm.
Clips
Bankers and traders need to have informational walls between them to prevent conflicts of interest.
24:22 - 26:42 (02:20)
Summary
Bankers and traders need to have informational walls between them to prevent conflicts of interest. Such walls can help prevent mistakes or negligence, as was observed between Alameda and FTX where FTX employees were unaware of what was going on, thus negating claims of negligence.
ChapterThe Design of Financial Scams
Episode#345 – Coffeezilla: SBF, FTX, Fraud, Scams, Fake Gurus, Money, Fame, and Power
PodcastLex Fridman Podcast
Insiders allege that Alameda Research, the parent company of FTX, engaged in insider trading by purchasing coins prior to listing on their exchange.
26:42 - 28:30 (01:48)
Summary
Insiders allege that Alameda Research, the parent company of FTX, engaged in insider trading by purchasing coins prior to listing on their exchange.
ChapterThe Design of Financial Scams
Episode#345 – Coffeezilla: SBF, FTX, Fraud, Scams, Fake Gurus, Money, Fame, and Power
PodcastLex Fridman Podcast
In this episode, hosts discuss how FTX has reportedly misplaced $8 billion and may be connected to fraudulent activities such as insider trading.
28:30 - 29:34 (01:03)
Summary
In this episode, hosts discuss how FTX has reportedly misplaced $8 billion and may be connected to fraudulent activities such as insider trading.
ChapterThe Design of Financial Scams
Episode#345 – Coffeezilla: SBF, FTX, Fraud, Scams, Fake Gurus, Money, Fame, and Power
PodcastLex Fridman Podcast
An "accounting glitch" at trading firm Alameda Research led to deposits being credited to FTX with no safeguards in place, according to Arcane Bear's Tijo Bear.
29:34 - 32:00 (02:25)
Summary
An "accounting glitch" at trading firm Alameda Research led to deposits being credited to FTX with no safeguards in place, according to Arcane Bear's Tijo Bear. He claimed the error margin was $10 billion.