Crypto collapse: FTX’s fall is one piece of a long, cold, contagious crypto winter
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Things did, indeed, get worse.
That is a theme of Caroline Ellison’s remarks about Sam Bankman-Fried and FTX during his trial on charges of wire fraud and conspiracy.
As Liz Lopatto captured from Tuesday’s testimony:
“[SBF] was very ambitious,” she said. Besides telling her about his presidential chances, he also told her that if there was a coin flip where tails destroyed the world and heads made the world twice as good, he’d flip the coin. He called this being “risk-neutral,” which seems like a fancy way of saying he was a gambling addict.
Ellison is back on the stand today, and I can’t wait for the next big update.
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