SBF’s Thoughts Revealed: Over 70 Pages of Unposted Tweets
In cryptocurrency, few figures have experienced a meteoric rise and precipitous fall like Sam Bankman-Fried. Once hailed as a genius entrepreneur, Bankman-Fried, the co-founder of FTX, is now facing a litany of legal troubles, including charges of wire fraud, money laundering, misusing customer funds, and campaign finance law violations. As he prepares for his trial, a trove of leaked writings totalling 250 pages offers a rare and unfiltered glimpse into his mind and the tumultuous journey that led to FTX’s collapse.
The Leak and the Unpublished Twitter Posts
The leak of Bankman-Fried’s writings came to light when crypto journalist and YouTuber Tiffany Fong obtained the manuscript and subsequently shared it with the New York Times. While not all the material has been made public, some key excerpts shed light on Bankman-Fried’s state of mind during his house arrest and impending trial.
One particularly striking revelation is a planned but unposted series of tweets comprising approximately 70 pages and over 15,000 words. Bankman-Fried attempted to justify his actions and explain the collapse of FTX. The document, formatted as a Twitter thread, was sent to Tiffany Fong, who became known for leaking private meetings and statements from a disgruntled Celsius insider. To her surprise, Bankman-Fried responded at length to her inquiries, providing an unprecedented insight into his thoughts.
Bankman-Fried’s Unwavering Deflection of Responsibility
Throughout his writings, Bankman-Fried seems unwavering in his refusal to accept responsibility for the downfall of FTX. He paints a picture of himself as a victim, lamenting that he is “broke and wearing an ankle monitor” and “one of the most hated people in the world.” These statements, while reflective of his personal feelings, also reveal a remarkable level of self-involvement given the magnitude of the losses suffered by FTX users.
Perhaps the most concerning aspect of Bankman-Fried’s writings is his persistent unwillingness to acknowledge the gravity of the situation. He downplays the disappearance of $8 billion and the financial devastation experienced by countless individuals. Instead, he appears more concerned with his tarnished public image and the perception of being a “hated” figure.
Blaming Colleagues and Loved Ones
Bankman-Fried’s writings also provide insight into his relationships with colleagues and loved ones. He deflects blame onto individuals such as his ex-girlfriend and former CEO of Alameda Research, Caroline Ellison. According to him, Ellison’s avoidance of risk management and refusal to heed his suggestions were critical factors in the collapse of FTX.
Furthermore, Bankman-Fried feels betrayed, suggesting that his relationship with Ellison may have contributed to her alleged failures. He claims that his attempts to offer guidance only made her feel worse, and he hints at the difficulties arising from their romantic involvement.
The Consequentialist Ethic and Family Influence
Bankman-Fried’s writings also shed light on his ethical framework, heavily influenced by consequentialist philosophy. While he advocates for “effective altruism” and the idea of using wealth for maximum societal impact, the glaring disconnect between his philosophical principles and actions is evident.
Surprisingly, Bankman-Fried’s parents, Joseph Bankman and Stanford Law School professor Barbara Fried, supported his ascent in the crypto world. His father even played a role in FTX, attending board meetings and providing tax advice. This family dynamic raises questions about aligning Bankman-Fried’s actions with his parents’ ethics.
The Continuing Saga
As Bankman-Fried awaits trial, his ongoing legal battles have become a focal point in the cryptocurrency industry. Recent developments, including Judge Lewis A. Kaplan’s denial of his request for pretrial release and Judge John Dorsey’s approval of FTX’s proposal to sell billions of dollars in cryptocurrencies, further highlight the complexity and gravity of the situation.
In the end, the leaked writings of Sam Bankman-Fried offer a fascinating but troubling glimpse into the mind of a once-celebrated figure who now faces the consequences of his actions. As the crypto world eagerly anticipates his trial, the legacy of FTX and the lessons to be learned from its collapse continue to unfold.
In a tale of spectacular rise and fall, Sam Bankman-Fried’s leaked writings reveal a man grappling with his actions, attempting to shift blame, and navigating the consequences of a colossal cryptocurrency collapse. From philosophical ideals to family dynamics, Bankman-Fried’s journey is a cautionary tale for the crypto industry and beyond.
