This 30-year-old was a philosopher first, then a crypto billionaire. His interest in...
Sam Bankman-Fried — CEO of FTX, a cryptocurrency exchange — testifies during a hearing before the U.S. House Financial Services Committee on Capitol Hill in December 2021.Typically, a billionaire philosopher king begins by making his billions and pursues politics and philosophy afterward.
Before working at a hedge fund and before founding cryptocurrency exchange FTX, from which he made the majority of his fortune, SBF worked for an EA think tank. SBF has linked his interest in entrepreneurship to building and then giving away a fortune, recentlyOne policy that EA proponents emphasize is an emphasis on prevention of harm.
I remain deeply skeptical about the real value of cryptocurrencies. Last year, Stephen Diehl, a software engineer and crypto sceptic,: “Crypto is an economic cult that taps into base human instincts of fear, greed and tribalism, combined with economic illiteracy as a means to recruit more greater fools to pile money into what looks like a weird, novel digital variant of a pyramid scheme.”Sam Bankman-Fried — CEO of FTX, a cryptocurrency exchange — sits in his office in Hong Kong in May 2021.
Business moves by SBF in the past two months suggest that he is looking to diversify from crypto into traditional trading. FTX bought a significant stake in Robinhood, the mobile securities trading platform. It also bought a piece of securities exchange IEX, made famous as the underdog startupThis all suggests that SBF may also have a healthy skepticism about the sustainability of crypto — or at least a prudent sense to diversify his exposure to it.
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