Nicole Lappin

That's how it had been sold to everybody as, you know, a new type of currency that can hedge against traditional equity fluctuations and things like that. But FTX, if anyone's confused, was it a coin or not? It was a platform analogous to like a Coinbase where you could buy and sell. Yeah. Right. There was a specific coin, but we'll get into that in a second.

Yeah, or like Fidelity or Vanguard for traditional.

Yeah, or like Fidelity or Vanguard for traditional.

Yeah, or like Fidelity or Vanguard for traditional.

And typically when you're looking at getting into any product, face cream, you know, a lip balm, I don't know. And they are advertising on the Super Bowl and they have all these celebrity sponsors. You think it's really cool. But when it comes to finance, I personally like my finance so, so boring. And in hindsight, it's easy to say that

And typically when you're looking at getting into any product, face cream, you know, a lip balm, I don't know. And they are advertising on the Super Bowl and they have all these celebrity sponsors. You think it's really cool. But when it comes to finance, I personally like my finance so, so boring. And in hindsight, it's easy to say that

And typically when you're looking at getting into any product, face cream, you know, a lip balm, I don't know. And they are advertising on the Super Bowl and they have all these celebrity sponsors. You think it's really cool. But when it comes to finance, I personally like my finance so, so boring. And in hindsight, it's easy to say that

the type of marketing they did would raise eyebrows because we know what happens next. But did that for you at the time or did that help you trust them more or think that they were, you know, flesh with cash and nothing could go wrong?

the type of marketing they did would raise eyebrows because we know what happens next. But did that for you at the time or did that help you trust them more or think that they were, you know, flesh with cash and nothing could go wrong?

the type of marketing they did would raise eyebrows because we know what happens next. But did that for you at the time or did that help you trust them more or think that they were, you know, flesh with cash and nothing could go wrong?

Yeah, for sure. It makes so much sense. You, you know, look at Tom Brady and Steph Curry and they have huge brands and probably teams to do due diligence and vet the things that they endorse or promote. It makes all the sense in the world. I mean, how could you have known otherwise? You do say, though, you have a theory as to why things then blew up so quickly.

Yeah, for sure. It makes so much sense. You, you know, look at Tom Brady and Steph Curry and they have huge brands and probably teams to do due diligence and vet the things that they endorse or promote. It makes all the sense in the world. I mean, how could you have known otherwise? You do say, though, you have a theory as to why things then blew up so quickly.

Yeah, for sure. It makes so much sense. You, you know, look at Tom Brady and Steph Curry and they have huge brands and probably teams to do due diligence and vet the things that they endorse or promote. It makes all the sense in the world. I mean, how could you have known otherwise? You do say, though, you have a theory as to why things then blew up so quickly.

Can you walk us through what you think really happened?

Can you walk us through what you think really happened?

Can you walk us through what you think really happened?

Yeah, he had a thing called effective altruism, right? That sounds delightful.

Yeah, he had a thing called effective altruism, right? That sounds delightful.

Yeah, he had a thing called effective altruism, right? That sounds delightful.

So there were a lot of green flags for you. There were these famous athletes who put their name behind it. There was the PayPal mafia. There was, you know, Forbes 30 under 30. Like they were doing all the big marketing things. They checked a lot of boxes. In hindsight though, were there any red flags or gut feelings that you had that you pushed aside at the time?