{"id":12121,"date":"2023-11-04T08:38:21","date_gmt":"2023-11-04T07:38:21","guid":{"rendered":"http:\/\/costops.com\/index.php\/2023\/11\/04\/dramatic-fall-for-sam-bankman-fried-and-unkempt-visionary-persona\/"},"modified":"2023-11-04T08:38:21","modified_gmt":"2023-11-04T07:38:21","slug":"dramatic-fall-for-sam-bankman-fried-and-unkempt-visionary-persona","status":"publish","type":"post","link":"http:\/\/costops.com\/index.php\/2023\/11\/04\/dramatic-fall-for-sam-bankman-fried-and-unkempt-visionary-persona\/","title":{"rendered":"Dramatic fall for Sam Bankman-Fried and \u2018unkempt visionary\u2019 persona"},"content":{"rendered":"

Jury did not believe T-shirt, cargo shorts and messy hair could prevent someone defrauding people out of billions of dollars<\/p>\n

For several years, Sam Bankman-Fried cut the figure of an unstoppable tech founder. With his trademark uniform of a T-shirt and shorts, and a mop of dark curls, Bankman-Fried courted investors big and small with promises that FTX, the cryptocurrency exchange he founded, was safer than all its competitors. He vowed there was an insurance fund to protect investors. He claimed there was a safeguard preventing accounts from margin trading if they lacked sufficient liquidity.<\/p>\n

All the while, Bankman-Fried curried favor with politicians and celebrities. He called for greater regulation of crypto currency, telling the Economic Club of New York, \u201cAmerica should provide oversight rather than sitting on the sideline.\u201d Bankman-Fried, according to Insider<\/a>, also said US authorities should \u201cbe able to strike a balance between fostering economic growth and providing consumer protection and protecting against systemic risk and financial crimes\u201d. The bravado paid financial and social dividends: Bankman-Fried became a billionaire by 30 and rubbed elbows with dignitaries such as Bill Clinton. FTX was valued at $32bn.<\/p>\n

Continue reading…<\/a>
\nJury did not believe T-shirt, cargo shorts and messy hair could prevent someone defrauding people out of billions of dollars
\nFor several years, Sam Bankman-Fried cut the figure of an unstoppable tech founder. With his trademark uniform of a T-shirt and shorts, and a mop of dark curls, Bankman-Fried courted investors big and small with promises that FTX, the cryptocurrency exchange he founded, was safer than all its competitors. He vowed there was an insurance fund to protect investors. He claimed there was a safeguard preventing accounts from margin trading if they lacked sufficient liquidity.
\nAll the while, Bankman-Fried curried favor with politicians and celebrities. He called for greater regulation of crypto currency, telling the Economic Club of New York, \u201cAmerica should provide oversight rather than sitting on the sideline.\u201d Bankman-Fried, according to Insider, also said US authorities should \u201cbe able to strike a balance between fostering economic growth and providing consumer protection and protecting against systemic risk and financial crimes\u201d. The bravado paid financial and social dividends: Bankman-Fried became a billionaire by 30 and rubbed elbows with dignitaries such as Bill Clinton. FTX was valued at $32bn. Continue reading…Technology | The Guardian<\/p>\n","protected":false},"excerpt":{"rendered":"

Jury did not believe T-shirt, cargo shorts and messy hair could prevent someone defrauding people out of billions of dollars For several years, Sam Bankman-Fried cut the figure of an unstoppable tech founder. With his trademark uniform of a T-shirt and shorts, and a mop of dark curls, Bankman-Fried courted investors big and small with …<\/p>\n

Dramatic fall for Sam Bankman-Fried and \u2018unkempt visionary\u2019 persona<\/span> Read More »<\/a><\/p>\n","protected":false},"author":0,"featured_media":12122,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"_links":{"self":[{"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/posts\/12121"}],"collection":[{"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/comments?post=12121"}],"version-history":[{"count":0,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/posts\/12121\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/media\/12122"}],"wp:attachment":[{"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/media?parent=12121"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/categories?post=12121"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/tags?post=12121"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}