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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

He and SBF met back at MIT when Sam was an undergrad.

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

McCaskill convinced him that he could maximize his impact in humanitarian causes by earning to give, you know, making as much money as possible so that he can give it away in a way that presumably will help the world.

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

Now, when Sam ultimately launched Alameda Research, it was an EA project from the start staffed by Sam's friends in the community.

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

One software engineer told Time, almost everyone who came on in those early days was an EA.

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

They were there for EA reasons, says Naya Buskal, a former software engineer at Alameda.

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

That was the pitch we gave people.

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

This is an EA thing.

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

It is.

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

It is basically a sports video game.

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

It's true.

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

In just nine months in 2022, the Future Fund, run by Nick Beckstead, a moral philosopher who used FTX money to support various causes, gave more than $160 million in other people's money funneled through FTX to effective altruism, including $33 million to organizations that McCaskill had a direct interest in.

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

Um, so that's why McCaskill spoke so positively about Sam, which is, it's made even more fucked up when you realize that like other people in the EA movement had started warning McCaskill about Sam Bankman freed and about him being a con man as early as 2018.

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

And I'm going to quote again from time.

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

This is about from like the very start of Alameda research.

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

Three former Alameda employees told Time he had inappropriate romantic relationships with his subordinates.

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

Early Alameda executives also believed he had reneged on an equity arrangement that would have left Bankman Freed with 40% control of the firm, according to a document reviewed by Time.

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

Instead, according to two people with knowledge of the situation, he had registered himself as sole owner of Alameda.

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

So basically, Sam has...

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

unethically taken control of the firm and all of the money invested in it.

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

And he is like fucking his subordinates.