In an unprecedented disclosure, Michael Lewis, the renowned author of Big Short, unveiled a potential proposition made by former FTX CEO Sam Bankman-Fried. Underscoring a sense of peril for U.S democracy, Bankman-Fried mulled over a staggering $5 billion offer to sway Donald Trump from his prospective 2024 presidential bid. Served as a protective strategy against what he perceived as an “existential risk”, the proposal however did not move past contemplation as Bankman-Fried no longer held the indicated sum, erasing this audacious speculation off the table.
Unfazed by bipartisan politics, Bankman-Fried’s philanthropic reach extended beyond party lines, generously donating to both Democratic and Republican camps. Yet, his goodwill could not ward off the legal and monetary tribulations he faced.
Looming over his philanthropic endeavors is the shadow of his failed enterprise. Lewis recounted the aftermath of FTX’s downfall in 2022, likening it to the remnants of Pompeii, strewn with personal effects and corporate assets. Despite Bankman-Fried’s firm conviction towards the longevity of FTX, reasserting, it would have continued to be profitable barring a bank run, the cryptosphere was left stunned as the once flourishing platform crumbled.
Coming October brings with it a grueling legal trial for Sam Bankman-Fried which involves not one but seven fraud cases, including five conspiracy charges and two substantive charges that will lay bare the extent of his involvement.
Interestingly, even amidst the financial chaos, barely shaken was his charismatic appeal to Vogue editor-in-chief Anna Wintour. Regardless of Bankman-Fried’s laid-back sartorial choices, Wintour saw potential for him to sponsor the esteemed Met Gala. Lewis drew a vivid portrait of SBF as a lavish ‘social experiment’, brimming with monetary means and a generous spirit.
Lewis’s latest work “Going Infinite: The Rise and Fall of a New Tycoon” traces this tumultuous journey of Bankman-Fried from a promising career to his swift downfall. Unfortunately, his ambitious pursuits did not translate into the success he anticipated, leaving headlines replete with tales of what once was and what could have been. The silence from representatives for both Sam Bankman-Fried and Donald Trump upon these revelations only amplifies the intrigue surrounding this unique chapter in cryptocurrency history.
Source: Cryptonews
