Going Infinite: The Rise and Fall of a New Tycoon
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Read between October 6 - October 7, 2023
15%
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At math camp people didn’t seem to care about his lack of facial expressions. At math camp he had conversations with other people that resembled the conversations he’d been having with himself.
Zach
SBF is one of a kind, except for all the other people exactly like him
50%
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Sam had already incorporated a business called FTX US—but was being careful about allowing customers to trade stuff on it of which the SEC might disapprove.
Zach
False
69%
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“It just seems like there isn’t enough money in politics,” said Sam.
77%
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DeSantis wanted to meet Sam, and Sam was curious to know more about this person who might well one day ask him for money. “It was to figure out where he was on the scale from reasonable person to Trump,” said Sam. “But I couldn’t figure it out.”
Zach
SBF, excellent judge of character.
77%
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There had been $15 billion in customer deposits on the exchange. Or there was meant to be that amount, held in either fiat currency or bitcoin and ether.
Zach
This is exactly the kind of detail that is incredibly important to understand. $15b in $USD is relatively stable. $15b in ETH or BTC can dissolve into $10b or $7b or less on a moment's notice. You can't understand the actual run without understanding the dynamics of cryptocurrency, and Lewis just refuses? Except when he starts talking about executive compensation and how FTT wasn't totally fake.
86%
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As Sam put it: “I didn’t ask, like, ‘How many dollars do we have?’ It felt to us that Alameda had infinity dollars.”
Zach
The numbers whiz!