Jamie Loftus

This is still breaking.

We are because this is a Thanksgiving week episode.

We only do one episode on Thanksgiving.

I needed a single one.

So I just want to give everyone background on this guy.

We will.

We may come back to this story because there's a lot we don't fully understand about how he did what he did and the degree to which.

But.

The gist of this is that this guy ran a trading service called Alameda Research and a crypto exchange.

An exchange is basically like a bank, right?

It's a cross between a bank and like a trading platform called FTX.

which was one of the largest cryptocurrency exchanges in the world and was also considered by most people to be the most stable and like ethical and legitimate.

Right.

People who are just kind of on the outside looking at when everything collapsed earlier this year.

Right.

You remember that we have.

Yeah.

So when that when the when crypto like fell apart, when a lot of crypto fell apart earlier this year and like a bunch of places went under, FTX was one of the ones that stayed stable and actually were buying up a bunch of like failing crypto companies to try to like prop up the industry.

They just collapsed.

And like the value of all everything has been plummeting for for the last several days.