The Collapse Of FTX: Insiders Tell All | CNBC Documentary

CNBC
CNBC
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Published 2023-10-02
Former billionaire, Sam Bankman-Fried, saw a meteoric rise as crypto's golden boy and an even more spectacular fall from grace as his $32 billion cryptocurrency exchange, FTX, collapsed in a matter of days. FTX customers and investors around the world watched in shock as a single tweet ignited a series of events that ended with the former crypto titan facing a dozen federal charges and waiting for trial behind bars. FTX customers, investors and employees were devastated to learn that $8.9 billion dollars in customer’s funds went missing from the exchange.

In this documentary, CNBC’s Kate Rooney speaks to the people most impacted by the fall of Bankman-Fried’s crypto empire. The in-depth documentary includes a candid interview with former President of FTX US who reveals what it was like to work directly for Bankman-Fried and what red flags concerned him most about the company. FTX investor, Anthony Scaramucci, tells all about his front-row seat to the collapse and what it was like to visit SBF while his empire was crumbling around him.

Rooney’s reporting also uncovers first-hand accounts from FTX customers who share the impact of their catastrophic losses, and pull no punches when discussing what lured them into SBF’s house of cards. And far beyond SBF’s rise and fall, the documentary explores the battle that lies ahead over the missing billions, and whether customers will ever get any of their money back.

Chapters:
00:00 – Introduction
02:43 – The rise of SBF
07:40 – FTX implodes
16:01 – Bahamian hideaway
25:37 – The missing billions
31:46 – Recovering the cash

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The Collapse Of FTX: Insiders Tell All | CNBC Documentary
All Comments (21)
  • @Sirius-me5zy
    When celebrities say it safe,we have to go the opposite way
  • @franciscogomes9844
    The guy with the chain, Versace shirt and BAPE pants is personification of crypto bro
  • @LenaSchweizer-ff8xy
    Treasury rates are rising quickly, the markets are collapsing, inflation is skyrocketing, and the Fed is imposing a significant interest rate hike—all of which will result in further losses for portfolios this quarter. How can I take advantage of the present market volatility? I'm still undecided about whether to sell my $125,000 worth of bonds and stocks.
  • @recordevo
    SBF looks so shifty in interviews. He had all the signs of a liar.
  • @paladro
    its not a complex story, he broke contract language, stole depositor money, gambled it on alt-coin, spending untold millions on celebrity marketing and lobbyist influence peddling, all while skimming off the top for himself and his family... exactly zero about this is revelatory or unique when it comes to fraud and scams, he lied to customers and stole their money.
  • @Todounpoco-wr8pq
    What side are you on as Blcktken300 divides the wealthy from the poor?
  • @AjandeJesusLeyvay
    Considering Blcktken300 for its $10 potential. Curious to learn more about its journey in the market.
  • @IsmaelCasas-hs6lz
    In my opinion Blcktken300 has great Potential to Pump due to all the ai craze...
  • @TheNinnyfee
    He didn't even have an accountant yet all the finance magazines featured him. Gross negligence on their part.
  • @AmariHolt
    to many scams here , what's the best bitcoin way to invest your bitcoins and gain Good returns
  • @Fer-xl3ig
    Wasn't Alex Becker a private investor for Project Blcktken300 . It's been killing it lately. Do you think it's still got room to move.
  • @handlealreadytaken
    CNBC had a direct hand in propping this guy up and putting it in his head that he's a god. Funny how they only get critical about him and FTX now that's it's 6 months after the collapse.
  • @royed31
    I cannot believe how few people are being charged over FTX .
  • @AlexisVlza-vq8rj
    Let's discuss the Blcktken300 guys. This is failproof and barely any asset can be labelled failproof at all.
  • @user-sd1rm6hu5i
    My Blcktken300 shorts are doing pretty well and I plan to hold much longer.
  • @randomcon123
    To be fair, when I heard that interview when SBF said his goal was to donate all his money… I instantly thought this guy was not trustworthy. No one starts a trading firm for charitable purposes…
  • @LoganJorgensenn
    As a newbie about to invest, you must have these three things in mind 1. Have a long term mindset. 2. Be willing to take risk. 3. Be careful on money usage, if you're not spending to earn back, then stop spending. 4. Never claim to know - Ask questions and it's best you work with a financial advisor.
  • @JosephReynolds522
    We are currently in the jaws of the worst bear markets I have seen, the average stock has been cut in half, and the only way to make money this year has been to either short or to trade long in very short time frames. I'm still at a crossroads deciding if to liquidate my dipping $117k stock portfolio, what’s the best way to take advantage of this bear market?
  • @shoylu88
    Love it when journalist never ask hard questions.