The Network Behind FTX with Marty Bent & Michael Krieger
Unlimited Hangout with Whitney Webb
Whitney Webb
4.9 • 1.2K Ratings
🗓️ 23 November 2022
⏱️ 113 minutes
🧾️ Download transcript
Summary
Mary Bent and Mike Krieger join Whitney to unravel the network behind the meteoric rise of Sam Bankman-Fried and FTX and what was actually going on at the company. The discussion goes far beyond the obvious fraud at FTX and looks at the networks that brought Bankman-Fried to power and were using him as a front for a dangerous agenda.
Originally published 11/22/22.
Show notes
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Transcript
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| 0:00.0 | Hey, you're listening to Unlimited Hangout. I'm your host Whitney Webb. Today we are going |
| 0:24.3 | to be waiting into the big story in the financial world and more specifically the crypto space |
| 0:28.9 | by working to make sense of the spectacular implosion of FTX in the mystique behind its 30-year-old |
| 0:35.8 | billionaire founder Sam Bankman-Freed. With each passing day, the news about the story gets |
| 0:41.0 | progressively more insane with the obvious fraudulent behavior of Bankman-Freed and his polycule |
| 0:46.0 | posse becoming ever more apparent. Yet some major outlets like the New York Times and covering |
| 0:51.0 | the FTX collapse have avoided portraying Bankman-Freed as a criminal or fraud. They haven't even |
| 0:56.7 | bothered to call out what he was actually doing at FTX, which is more or less running a massive |
| 1:01.0 | Ponzi scheme. Yet beyond the brazen criminality, the story is taken on some interesting new dimensions, |
| 1:06.8 | following revelations about Sam Bankman-Freed's connections, particularly those of his family and |
| 1:11.4 | his ties to a bizarre somewhat cultish movement of self-styled philanthropist known as effective |
| 1:17.6 | altruism. Not only that, but some of these connections involve cozy ties to those leading the |
| 1:22.2 | Securities and Exchange Commission, as well as a revolving door between congressional staff and |
| 1:26.7 | one of FTX's subsidiaries. Did Sam Bankman-Freed really accomplish all of this on his own? No, |
| 1:32.9 | but the narrative is quickly being spun that he conducted all of this fraud, avoided regulatory |
| 1:37.4 | scrutiny, and amassed billions of dollars of wealth without the help of a network that |
| 1:41.2 | been itfitted from and protected his activities. Such a narrative is oddly reminiscent of the |
| 1:46.1 | mainstream narrative about another brazen financial criminal, Jeffrey Epstein. |
| 1:50.1 | To help me make sense of this complete hive of financial fuckery and apparent conspiracy, |
| 1:55.2 | I am joined today by Marty Benton and Mike Krieger. Marty is the founder of TFTC.io, |
| 2:00.3 | a media company focused on Bitcoin beauty and freedom in the digital age. He is also a partner |
| 2:04.7 | at 1031, a leading investment platform focused exclusively on investing in the Bitcoin ecosystem, |
... |
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