Some critics alleged the “Moneyball” author had been too sympathetic to Bankman-Fried in his book about the disgraced former billionaire.
in March after being convicted of a colossal fraud in which he stole $8 billion of customers’ deposits from his FTX, the book that Lewis wrote about Bankman-Fried and the collapse of FTX, was published on the day that jurors were selected for SBF’s trial in October 2023.that he felt as though he was addressing a “mob.
“Whatever the exact sum, it was enough to repay all depositors and various other creditors at least 118 cents on the dollar—that is, everyone who imagined they had lost money back in November 2022 would get their money back, with interest,” Lewis writes. Lewis later remarked on the “strange fact” that no one “guessed Sam’s crime before the market exposed it,” unlike in the case of“There is a reason for this, I think: The crime made no sense,” Lewis writes of Bankman-Fried’s wrongdoing. “It still makes no sense. The crime was unnecessary to the business in a way that, say, Bernie Madoff’s was not .”
The “truth” of Bankman-Fried, as Lewis sees it, is “closer to ‘young person with an intellectually defensible but socially unacceptable moral code makes a huge mistake in trying to live by it’ than ‘criminal on the loose in the financial system.’”
Michael Lewis Books Cryptocurrencies Sam Bankman-Fried
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