132. TBR - FTX Collapse Explained | What will Pull Us Out of This Bear Phase?

We break down the biggest crypto scandal to hit the market since Mt.Gox was hacked back in 2014. Last week FTX which is one of the largest crypto exchanges in the world was found to run in to liquidity problems which meant customers would not be able to withdraw the funds they deposited. This was due to mismanagement of the customer funds to prop up their investment arm in Alameda Research which took a huge hit. Now FTX has completely collapsed which positions Binance and Coinbase in a league of their own as far as crypto exchanges go. How will this impact the crypto market and it’s potential to recover.

Topics:

00:00:00 - The worst time to get sick 
00:01:38 - The start of FTX collapse
00:04:55 - Did Sam Bankman-Fried know?
00:09:22 - CZ of Binance found out!
00:12:12 - Who was impacted by FTX
00:13:22 - CZ’s early warning signs
00:16:52 - Notifying the Market
00:18:39 - Crypto’s BIG SHORT
00:22:00 - BitBoy calling it out
00:23:25 - Sam Bankman-Fried’s Reaction
00:24:09 - Moving $600 Million
00:27:25 - Bad look for Crypto
00:31:30 - Who should be in charge?
00:34:21 - How did Sam got the money?
00:36:44 - Donating to Politicians
00:40:18 - Coinbase On Top
00:43:25 - How rich was Sam Bank-Fried?
00:45:20 - Who should be cast in the Show?
00:47:24 - What’s the impact on crypto?
00:53:28 - Long term effects
00:56:41- Some Hope
00:58:28 - Institutions are coming in

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Music by OfDream - Thelema