After the Bernie Madoff Ponzi scheme, many thought they would never see a case of fraud at that scale again. Then along came FTX. On this week’s episode of the Drill Down podcast, listen to Peter Schweizer and Eric Eggers discuss the cryptocurrency scandal of the decade.
Sam Bankman Fried launched FTX in Spring of 2019, a personal crypto exchange firm. Soon, his wealth grew to more than $16 billion. FTX and Sam Bankman Fried were everywhere — Formula 1 race cars, the Miami Heat basketball arena, all the way to Washington D.C.
In 2022, Fried and FTX-affiliated donors were the second only to George Soros among Democratic donors. Sam Fried was adored, until his financial reports were leaked, and his business collapsed before his eyes. Tune in to the Drill Down podcast to hear how $1 billion disappeared from the crypto market without a trace due to FTX and the founder, Sam Bankman Fried.
