Ben McKenzie on Sam Bankman-Fried: 'As we started talking, I found the actual substance of his answers, or lack thereof, really quite shocking'
a culmination of their reporting which traces crypto’s stunning recent rise and fall. McKenzie interrogated leaders of crypto who have since been arrested—including FTX’s Sam Bankman-Fried and Celsius’s Alex Mashinsky—and traveled toto monitor their mostly disastrous Bitcoin experiment. Many crypto enthusiasts argue that the current lull in prices is temporary, and that Bitcoin rises upwards in a cyclical pattern.
The line between investing and gambling is quite fuzzy. Some of the things people invest in, or gamble on, are truly innovative technologies that actually do change things. And those people make a lot of money. But some of them are fraud.
That was a real eye opener. The pro-crypto argument I was most sympathetic to was that there are other countries where their currencies are much more unstable, and there are people who lack access to banking. Potentially, cryptocurrency could provide a bridge for those people.
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