22 min listen
The downfall of FTX
FromPost Reports
ratings:
Length:
35 minutes
Released:
Dec 6, 2022
Format:
Podcast episode
Description
The crypto world is in shock after FTX, a major cryptocurrency exchange, declared bankruptcy. We discuss what led to the company’s collapse and how its 30-year-old founder went from a philanthropic darling to disgraced CEO.Read more:What led to the ruin of FTX, one of the world’s biggest cryptocurrency exchanges? It’s the question confounding Silicon Valley — and Washington. After the collapse, founder and CEO Sam Bankman-Fried stepped down amid claims of mismanagement. Newly appointed CEO John J. Ray III — who oversaw Enron’s bankruptcy proceedings — said in FTX’s bankruptcy filing: “Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here.” Meanwhile, federal regulators and politicians in Washington have soured on Bankman-Fried, whose millions in campaign donations previously earned him audiences with top lawmakers.Post economic policy reporter Tory Newmyer unpacks FTX’s downfall and tracks the rise and fall of Sam Bankman-Fried, from his massive political donations and lobbying efforts in Washington to his apology campaign.
Released:
Dec 6, 2022
Format:
Podcast episode
Titles in the series (100)
New Congress, same old shutdown: Seung Min Kim explains how Congress might tackle the shutdown. Colby Itkowitz on whether the new Congress is as diverse as it seems. Plus, Ian Shapira on history, heritage and hatred. by Post Reports