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Kevin Zhou, cofounder of Galois Capital, and Jesse Powell, cofounder of Kraken, talk about why FTX collapsed, the warning signs, and whether it\u2019s a catalyst for self-custodial adoption.\xa0\n\nShow highlights:\n\nthe root causes of the FTX collapse, according to Jesse and Kevin\n\nwhether there were warning signs of all the risks that were to come\n\nthe importance of learning from mistakes, even for new people in the space\n\nKevin's response to the stuck funds in FTX\n\nthe debate about utilitarianism and SBF's effective altruism\n\nwhether the philosophy behind founders matters\n\nKevin's and Jesse's theories of how FTX and Alameda lost billions of dollars\n\nhow Alameda and FTX's books were commingled\xa0\n\nwhether people will start using self-custodial wallets\n\nwhether the fall of FTX vindicates BTC maximalism\n\nwhether regulation has been beneficial or harmful for American customers\n\nthe role of venture capital firms and their "mixed incentives"\n\n\n\nTake Unchained's 2022 survey!\xa0\xa0\nUnchained is doing its annual survey. Tell us how you think we\u2019re doing and how we could improve, whether it be on the podcast, in the newsletter, or in our premium offering. Looking forward to hearing your thoughts!\xa0\nThank you to our sponsors!\nCrypto.com\nChainalysis\nMinima\n\nKevin:\n\nTwitter\n\nPrevious Unchained episodes:\n\nHow Traders Are Thinking About the Merge \u2014 and a Potential ETHPoW Chain\n\n\nWhy Kevin Zhou Believes Ethereum Will Have 3 Forks After the Merge.\n\nThe Chopping Block: Kevin Zhou on Why He Knew Terra Would Crash\n\n\nJesse:\n\nTwitter\n\nPrevious Unchained episodes:\n\nJesse Powell, CEO of Kraken, on Drawing a Line With Regulators\n\n\nEpisode Links\nPrevious coverage on Unchained of FTX:\n\nDid the Bahamian Government Direct SBF and Gary Wang to Hack FTX? \u2013 Ep. 422\n\nThe Chopping Block: Why Lenders Didn\u2019t Liquidate Alameda When It Was Underwater\xa0\n\nErik Voorhees and Cobie on Why FTX Loaned Out Customers\u2019 Assets\n\nThe Chopping Block: FTX: The Biggest Collapse in the History of Crypto?\n\nSam Bankman-Fried on How to Prevent the Next Terra and 3AC\n\n\nFTX Collapse:\n\nFirst declaration document\n\nUnchained: FTX Bankruptcy Overseer Says Company\u2019s Collapse Is Worst He\u2019s Ever Seen\n\n\nUnchained: Bahamas Regulator Directed SBF to Transfer FTX Assets to Government Wallet\n\n\nSBF tweet: FTX files for Chapter 11 bankruptcy protection\n\n\nVox interview with SBF: Sam Bankman-Fried tries to explain himself\n\n\nNYT: How Sam Bankman-Fried\u2019s Crypto Empire Collapsed\n\n\nBloomberg: Crypto Hedge Fund Galois Confirms $40 Million Exposure to FTX\n\n\n\nLearn more about your ad choices. Visit megaphone.fm/adchoices