logo
episode-header-image
Nov 2022
33m 35s

The Man Who Was Supposed to Save Crypto

The New York Times
About this episode

Earlier this year, much of the crypto industry imploded, taking with it billions of dollars. From that crash, one company and its charismatic founder emerged as the industry’s savior.

Last week, that company collapsed.

Who is Sam Bankman-Fried, how did he become the face of crypto, and why did so many believe in him?

Guest: David Yaffe-Bellany, a reporter covering cryptocurrencies and fintech for The New York Times.

Background reading: 

For more information on today’s episode, visit nytimes.com/thedaily. Transcripts of each episode will be made available by the next workday. 

Up next
Today
Trump’s Top Aides Spread the Epstein Conspiracy. Now They Are Trying to Kill It.
For months, President Trump and Attorney General Pam Bondi suggested that they would expose the hidden, potentially sinister truth about Jeffrey Epstein’s death in 2019.But over the past few days, the Trump administrationWhite House decided to shut down has poured cold water on t ... Show More
21m 47s
Yesterday
A Love Letter to Camp Mystic
On Monday evening, the death toll from the flooding in Central Texas rose past 100. A single place accounted for 27 of those deaths: Camp Mystic, a century-old Christian summer camp for girls.Erin Paisan, who attended Camp Mystic, explains what the place meant to generations of g ... Show More
25m 9s
Jul 7
A Dark Moment for Journalism — and Devastation in Texas
Last week, when Paramount, the parent company of CBS News, announced a $16 million settlement with President Trump over editing of a segment of “60 Minutes,” many of the network’s journalists were furious.The deal also raised questions about the independence of CBS’s journalism, ... Show More
34m 15s
Recommended Episodes
Nov 2022
Eight Days Into FTX's Bankruptcy Blow Up
It’s been another unprecedented week in the crypto ecosystem. Fast moving information and news about digital assets has kept coming as the market struggles with the repercussions of FTX declaring bankruptcy and the resignation of former CEO Sam Bankman-Fried. Events continue to u ... Show More
18m 56s
Nov 2022
MM090: FTX fiasco rocks the crypto market
In this episode, we attempt to unpack what exactly happened in the crypto market this week which was rocked by news about FTX and Binance, two of the world's largest crypto exchanges. The move came as FTX CEO and founder Sam Bankman-Fried, who was hailed as something of a savior ... Show More
57m 1s
Nov 2022
What FTX’s collapse means for crypto
The crypto exchange FTX was supposed to be among the “credible” players operating in digital finance. But its swift descent into bankruptcy shocked the financial industry. The FT’s asset management correspondent Josh Oliver explains what went wrong, and markets editor Katie Marti ... Show More
19m 20s
Mar 2023
The Naked Emperor Episode 1: The Hype
Sam Bankman-Fried wasn't like other crypto moguls: he drove a Toyota Corolla, he was an advocate for government regulation, he said he would give billions away to charity. That is, until he lost it all in what has been called “one of history’s greatest-ever destructions of wealth ... Show More
33m 47s
Nov 2022
Understanding the Collapse of Sam Bankman-Fried's Crypto Empire
The collapse of the Sam Bankman-Fried empire is gigantic, sprawling and fast moving. While details are still coming out, it already ranks among the most prominent corporate disasters of all time and has left the entire crypto community reeling. To better understand the role that ... Show More
51m 51s
Nov 2022
Money Talks: The cryptocalypse
Until last week, Sam Bankman-Fried - or SBF as he’s become known - was crypto’s poster-child. He was a regular in Washington, DC where he schmoozed journalists, regulators and lawmakers alike. He funded political campaigns and sponsored sports teams ranging from basketball to For ... Show More
44m 1s
Nov 2022
Money Talks: The cryptocalypse
Until last week, Sam Bankman-Fried - or SBF as he’s become known - was crypto’s poster-child. He was a regular in Washington, DC where he schmoozed journalists, regulators and lawmakers alike. He funded political campaigns and sponsored sports teams ranging from basketball to For ... Show More
44m 1s
Apr 2023
The Naked Emperor Episode 4: It Takes a Village
Sam Bankman-Fried couldn’t have marketed FTX to the masses on his own. He had help – from the institutional investors who brought in the big bucks, to the celebrity endorsers who told the public that FTX was “a safe and easy way to get into crypto.” One FTX brand ambassador was K ... Show More
34m 12s
Aug 2022
The cult of crypto: How $2 trillion went up in flames
It promised a financial revolution - a liberation from money middlemen. But then the $3 trillion industry of cryptocurrency lost two thirds of its value in six months. So was it all a cult of personality? Or is the revolution still to come?This podcast was brought to you thanks t ... Show More
34m 32s