Jamie Loftus
👤 SpeakerAppearances Over Time
Podcast Appearances
Like his paper value was like $22 billion, but he gave himself basically a billion dollars in other people's money.
Although he may have gambled that away.
It's really unclear how much money he actually has liquid at the moment.
I have no idea.
Either he was like actually a gambling addict and a narcissist and he really did lose it all, or this was a con from the beginning, knowing it would all collapse and he got as much as he could out of it and he's going to wind up someplace without extradition, right?
Like that was the goal.
It's very it's it's unclear at the moment.
I'm going to read you some things at the end here and you can kind of make your anyway, whatever.
So after, you know, starting FTX, the company moves to Hong Kong and then the Bahamas.
And they use, they buy these very, like a $39 million mansion that he lives in with his friends using FTX tokens, which is like internal cash that his company issues based on the perceived value of the company.
It's a shitload.
And they're able to buy it because everything's like their paper on paper.
They've gone from nothing to worth thirty two billion dollars in like a year or two.
And these these idiot like property owners in the Bahamas are like, well, clearly the best thing we could do is buy this building using the fake money they created for their own company that they tell us is worth a lot of money.
This is worth it.
Um, so since everything collapsed, some people that SBF had like reached out to as early investors have commented about why they didn't invest in this company in the early days.
And most of them, it's because like what they could see of his investments, the tens of millions that he promised to charities in the long term.
positions in risky cryptocurrencies didn't make sense.
They would look at like the things he was buying with the company assets and the things that like he was investing in and be like, well, there's no way he could have that kind of liquidity if this is a legitimate exchange, right?
He can't have that kind of cash on hand.