11/12/2022: The Truth About the Collapse of FTX – What does this mean long-term for crypto?
Summary: Thanks for joining me on The Truth About Your Future as we commemorate Veterans Day this weekend. Here’s what’s on the show today. The stunning demise of FTX: we’re going to have a conversation with FCC commissioner Hester Peirce, and I’ll also talk to Bitwise’s CIO Matt Hougan about this debacle. What do Pink Floyd, Justin Timberlake, and Kenny Chesney have in common? The Ponzi scheme that went on for seven years. And our weekly health and wellness segment with my wife, Jean.
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Show Notes
FTX, the world's second largest crypto exchange, has announced that the company is broke, that they aren't able to handle withdrawal requests from their crypto exchange platform. Now you've probably heard of FTX. FTX slapped their logo on the uniforms of umpires in the World Series. They bought the naming rights to the stadium where the Miami Heat plays – they paid $212 million for that. The founder and CEO of FTX is Sam Bankman-Fried – 32 years old and worth $32 billion, at least until this week. And he not only was on the cover of Time Magazine, but he just recently contributed $39 million to Democrat Political Action Committees, making himself one of the largest political contributors in the country. Now, we need to unwind all of this and talk about what it means for crypto – the impact on Bitcoin and other digital assets.
Watch the webinar on the FTX debacle
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