Front Burner Presents | The Naked Emperor E4: It Takes a Village

Published: April 10, 2023, 8:10 a.m.

Sam Bankman-Fried couldn\u2019t have marketed FTX to the masses on his own. He had help \u2013 from the institutional investors who brought in the big bucks, to the celebrity endorsers who told the public that FTX was \u201ca safe and easy way to get into crypto.\u201d One FTX brand ambassador was Kevin O\u2019Leary, from the reality show Shark Tank. Host Jacob Silverman questions O\u2019Leary about his due diligence before accepting the multimillion dollar endorsement deal.\n\nWe also hear from everyday investors and hopeful beneficiaries of SBF\u2019s charitable largesse and learn how their hopes were dashed on the rocks of alleged fraud.\n\nZooming out, we learn that a lot of people may be responsible for what happened to FTX and that the losses, especially in a big alleged financial fraud scheme, can reverberate widely. Fourteen years into the crypto experiment, we survey the damage and the successes, and ask what we can learn from the disaster that Sam Bankman-Fried left in his wake.\n\nFor more episodes of The Naked Emperor, check out its podcast feed: https://link.chtbl.com/uXdCyMR8\n\nFor transcripts of this series, please visit: https://www.cbc.ca/radio/frontburner/transcripts