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Sam Bankman-Fried Blames Everyone but Himself for FTX’s Collapse

Sam Bankman-Fried Blames Everyone but Himself for FTX's Collapse

The New York Times recently got hold of a trove of writings from Sam Bankman-Fried, supposedly from when he was under house arrest. While the most interesting parts are yet unreleased – like a 70-page Twitter thread reportedly offering the ex-CEO of FTX’s “side” of the business failure – there are notable quotes and details that shed further light on SBF’s state of mind before and after the collapse of his crypto empire.

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Most notably, Bankman-Fried still seems unwilling to take any responsibility for what happened — or even register that $8 billion *somehow* went missing, people lost life savings or that he could spend the next decades of his life rotting in prison. And, somehow, his biggest regret still seems wrapped up in his fallen public persona, as if the weekly court hearings and ongoing bankruptcy process are a detour from his life as a magnanimous, beloved statesman he was destined to live.

“I’m broke and wearing an ankle monitor and one of the most hated people in the world,” Bankman-Fried reportedly wrote. “There will probably never be anything I can do to make my lifetime impact net positive.”

To be fair, the NYT gave no indication of the real context of why or when Bankman-Fried wrote this down, and it is essentially a personal diary that was leaked to the press. But: What. The. Hell. How unbelievably self-involved does a person have to be to write that they feel broke after losing so much money for so many people.

It’s true Bankman-Fried’s lifestyle came crashing down along with his company — he had a taste for luxury real estate, private jets and on-demand delivery. It’s all just another example of how his reputation as a Corolla-driving billionaire schlub was a front.

See also: Sam Bankman-Fried Cosplayed as a Genius | Opinoin

Worse, he reportedly wrote: “And the truth is that I did what I thought was right.” Taken together with the line above, this is exactly the same “ends justify the means” mentality that got Bankman-Fried in trouble in the first place.

A lot has been written about SBF’s breed of “effective altruism” and why people who pursue profit at all…

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