New York Times Runs Bizarre Softball Article on FTX's Sam Bankman-Fried
piece gives both SBF and cryptocurrency more broadly the benefit of the doubt, using the former billionaire’s quotes extensively, and even trying to position his attitude as one of self-reflection rather than ruthless calculation to make himself sound better.Mr. Bankman-Fried did, however, agree with critics in the crypto community who said he had expanded his business interests too quickly across a wide swath of the industry.
Mr. Bankman-Fried’s circle of colleagues was bound by a commitment to effective altruism, a charitable movement that urges adherents to give away their wealth in efficient and logical ways. For co-workers outside the clique, it was sometimes difficult to get time speaking with Mr. Bankman Fried, a person familiar with the matter said. And Mr. Bankman-Fried made it a point of pride that FTX had only about a 300-person staff, much smaller than its top rivals, Binance and Coinbase.
FTX and Alameda were closely linked. Alameda traded heavily on the FTX platform, meaning it sometimes benefited when FTX’s other customers lost money,In the past, Mr. Bankman-Fried has defended the arrangement, saying Alameda provided crucial liquidity — injections of capital that enabled others customers to complete transactions on the exchange.
“People can say all the mean things they want about me online,” he said. “In the end, what’s going to matter to me is what I’ve done and what I can do.”
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