I find it disappointing that Michael Lewis seems to downplay the harm caused by FTX:
"Jon Wertheim: I can see people watching this saying, like, 'Come on guys. This is like Elizabeth Holmes in cargo shorts. And this is all a ruse. Don't fall for the shtick. This is a bad actor.'
"Michael Lewis: It's a little different supplying, you know, phony medical information to people that might kill them. And in this case, what you're doing is possibly losing some money that belonged to crypto speculators in the Bahamas. On the other hand, this is not to excuse. He shouldn't have done that."
Ordinary people around the world lost their savings on FTX!
The company was actively targeting retail customers with high-profile promotion like Super Bowl ads featuring a well-known actor. The customers who suffered losses were not just "crypto speculators in the Bahamas."
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[ 3.2 ms ] story [ 147 ms ] thread"Jon Wertheim: I can see people watching this saying, like, 'Come on guys. This is like Elizabeth Holmes in cargo shorts. And this is all a ruse. Don't fall for the shtick. This is a bad actor.'
"Michael Lewis: It's a little different supplying, you know, phony medical information to people that might kill them. And in this case, what you're doing is possibly losing some money that belonged to crypto speculators in the Bahamas. On the other hand, this is not to excuse. He shouldn't have done that."
Ordinary people around the world lost their savings on FTX!
The company was actively targeting retail customers with high-profile promotion like Super Bowl ads featuring a well-known actor. The customers who suffered losses were not just "crypto speculators in the Bahamas."