On Thursday (24 November 2022), Tesla and SpaceX CEO Elon Musk commented on Wall Street Journal’s very kind treatment of Sam Bankerman-Fried (aka “SBF”), the disgraced co-founder and former CEO of bankrupt crypto exchange FTX, in a report published earlier that day.
On 11 November 2022, FTX.com issued the following press release:
Press Release pic.twitter.com/rgxq3QSBqm— FTX (@FTX_Official) November 11, 2022
And here is how — on the same day — SBF announced the collapse of the FTX empire:
2) I'm really sorry, again, that we ended up here.— SBF (@SBF_FTX) November 11, 2022
Hopefully things can find a way to recover. Hopefully this can bring some amount of transparency, trust, and governance to them.
Ultimately hopefully it can be better for customers.
The following video from Wall Street Journal nicely summarizes how FTX went bankrupt:
On 16 November 2022 when American journalist Kelsey Piper, who is “a senior writer at Future Perfect, Vox’s effective-altruism-inspired section on the world’s biggest challenges”, published a highly interesting report on the conversation she had with SBF — via Twitter DMs — on 15 November 2022, which shed much needed light on how SBF thinks and on the goings-on that lead to the collapse of the FTX empire and SBF’s fall from grace.
Hey guys, last night in Twitter DMs I asked Sam Bankman-Fried when Alameda first borrowed FTX customer funds, what he really thinks of the SEC, and a lot more. https://t.co/Yq8InqNPS4— Kelsey Piper (@KelseyTuoc) November 16, 2022
Yesterday, the Wall Street Journal published an article (titled “Sam Bankman-Fried Said He Would Give Away Billions. Broken Promises Are All That’s Left.”) about SBF’s “ambitious philanthropic endeavors” and how those plans are now in tatters due to the collapse of the FTX empire supposedly wiping out much of his wealth.
This led Musk, who recently bought Twitter, to criticize the Wall Street Journal for its very gentle/kind treatment of SBF:
Of course, the crypto community, which is extremely angry with SBF, was not surprised by such treatment of SBF since many mainstream news outlets have refrained from serious criticism of SBF’s behavior.
For example, CNBC co-anchor Andrew Ross Sorkin said recently that he would be interviewing SBF at the upcoming New York Times DealBook Summit:
A lot of folks have been asking if I would still be interviewing @SBF_FTX at the @nytimes @dealbook Summit on Nov 30…— Andrew Ross Sorkin (@andrewrsorkin) November 23, 2022
The answer is yes. 👇
There are a lot of important questions to be asked and answered.
Nothing is off limits.
Looking forward to it… https://t.co/lShAqXLKGS
Here are a few reactions from the crypto community to mainstream media seemingly fawning over SBF even now that so much information has come out about his thinking and behavior:
What happened with FTX wasn’t a “mistake” or “risky trade gone bad” it was outright fraud on an unprecedented scale.— Dan Held (@danheld) November 18, 2022
Insane that mainstream media isn’t slamming Caroline and SBF.
We are being fed narratives primarily meant to entertain, to sow division, to *make* news, to elicit emotions, to push agendas, but mainly to drive page views and clicks.— Mike Dudas (⛳️,🏆) (@mdudas) November 18, 2022
The journalists hired and assigned are largely placed on stories that fit their biases.
They can’t help it!
Watch Mainstream Media closely and you’ll see who’s been paid off to make sure that #SBF has a super clean image.— David Gokhshtein (@davidgokhshtein) November 23, 2022
What we really need is another think piece from the mainstream media fellating SBF over his plans to save rare butterflies, rescue abandoned puppies and cure Rectal cancer that were unfortunately sidetracked by his misfortune.— The Wolf Of All Streets (@scottmelker) November 25, 2022
Just a good guy who got unlucky, right?
Anyway, Musk’s tweet prompted Michael Saylor, the Executive Chairman of MicroStrategy Inc., to say what he thinks about SBF and his grandoise plans:
It was never a plan to save the world. It was a plan to steal the world.— Michael Saylor⚡️ (@saylor) November 24, 2022