Menu
Sign In Search Podcasts Charts People & Topics Add Podcast API Pricing

Jamie Loftus

๐Ÿ‘ค Speaker
4079 total appearances

Appearances Over Time

Podcast Appearances

Behind the Bastards
CZM Rewind: How Sam Bankman-Fried Conned the Crypto World & The Sam Bankman-Fried Update

I'm not going to go into details.

Behind the Bastards
CZM Rewind: How Sam Bankman-Fried Conned the Crypto World & The Sam Bankman-Fried Update

I mean, this fucking dick writing article spends a long time explaining how he figures this out.

Behind the Bastards
CZM Rewind: How Sam Bankman-Fried Conned the Crypto World & The Sam Bankman-Fried Update

And it might even have been legal.

Behind the Bastards
CZM Rewind: How Sam Bankman-Fried Conned the Crypto World & The Sam Bankman-Fried Update

He may not have broken the law to do this, although it's kind of hard to know because all of this is complicated finance gibberish.

Behind the Bastards
CZM Rewind: How Sam Bankman-Fried Conned the Crypto World & The Sam Bankman-Fried Update

Finance guys call this an arbitrage.

Behind the Bastards
CZM Rewind: How Sam Bankman-Fried Conned the Crypto World & The Sam Bankman-Fried Update

And it's basically the ideal that if you can, if there's a resource that's worth a bunch more money one place than it is the other place, you buy it where it's cheap and you sell it where it's expensive and you get free money, right?

Behind the Bastards
CZM Rewind: How Sam Bankman-Fried Conned the Crypto World & The Sam Bankman-Fried Update

That makes sense?

Behind the Bastards
CZM Rewind: How Sam Bankman-Fried Conned the Crypto World & The Sam Bankman-Fried Update

Yeah.

Behind the Bastards
CZM Rewind: How Sam Bankman-Fried Conned the Crypto World & The Sam Bankman-Fried Update

Yeah.

Behind the Bastards
CZM Rewind: How Sam Bankman-Fried Conned the Crypto World & The Sam Bankman-Fried Update

Yeah.

Behind the Bastards
CZM Rewind: How Sam Bankman-Fried Conned the Crypto World & The Sam Bankman-Fried Update

If I am, Jamie.

Behind the Bastards
CZM Rewind: How Sam Bankman-Fried Conned the Crypto World & The Sam Bankman-Fried Update

Jamie, if my drug dealer sells me ketamine for like 40 bucks a gram, right?

Behind the Bastards
CZM Rewind: How Sam Bankman-Fried Conned the Crypto World & The Sam Bankman-Fried Update

And I don't know, at a house party, you're hanging out at a couple of blocks away.

Behind the Bastards
CZM Rewind: How Sam Bankman-Fried Conned the Crypto World & The Sam Bankman-Fried Update

Somebody says that they'd pay $70 a gram for ketamine.

Behind the Bastards
CZM Rewind: How Sam Bankman-Fried Conned the Crypto World & The Sam Bankman-Fried Update

You can make 30 free bucks by taking the ketamine you bought for 40 bucks and selling it at that other house party, right?

Behind the Bastards
CZM Rewind: How Sam Bankman-Fried Conned the Crypto World & The Sam Bankman-Fried Update

Yeah.

Behind the Bastards
CZM Rewind: How Sam Bankman-Fried Conned the Crypto World & The Sam Bankman-Fried Update

Yeah.

Behind the Bastards
CZM Rewind: How Sam Bankman-Fried Conned the Crypto World & The Sam Bankman-Fried Update

Yeah.

Behind the Bastards
CZM Rewind: How Sam Bankman-Fried Conned the Crypto World & The Sam Bankman-Fried Update

Ketamine makes everything make sense.

Behind the Bastards
CZM Rewind: How Sam Bankman-Fried Conned the Crypto World & The Sam Bankman-Fried Update

I got he makes he makes a shitload of money doing this.