I say comedy, but no doubt this stuff's destroying the livelihoods of thousands upon thousands of small investors.
The FTX crash has been heavily reported in the news past few days. Little bit of extra detail in this FT report about the way internal finance was accounted at FTX … turns out it was a spreadsheet made up of fibs.
Meanwhile, Bankman-Fried was reportedly living with 10 "roommates", some of whom were allegedly in a polycule or dating each other, most of whom it sounds like were constantly dosed on amphetamines, in a $40m penthouse in the Bahamas.
The "roommates" included current or former girlfriend Caroline Ellison, who he'd met while at college, and he'd appointed as CEO of FTX trading sibling Alameda Research. The people living in the penthouse basically ran Bankman-Fried's whole operation across multiple ostensibly billion-dollar organisations it seems, with seemingly no internal regulation at all. There was reportedly a mutual friend who'd get flown into the Bahamas for dispute resolution when the people dating, fucking or working with each other had a major clash.
This whole story's a massive rabbit hole, the links to to the "effective altruism" or "longtermist" movement that's gained a lot of traction in Silicon Valley are of interest, and that movement's own links to soft techno-fascism are damning too …