Virtually no one in EA would have approved of the manner by which Sam sought to make FTX more valuable.
I talked to many people about Sam doing shady things before FTX collapsed. Many people definitely endorsed those things. I don’t think they endorsed stealing customer deposits, though honestly, my guess is a good chunk of people would have endorsed it if that wouldn’t have resulted in everything exploding (and if it was just like a temporary dip into customer deposits).
I don’t understand the second paragraph. Yes, Sam tricked people into depositing money onto his exchange, which he then used to fund a bunch of schemes, mostly motivated via EA and with the leadership team being substantially populated by EA people. Of course the customers didn’t want to help EA, that’s what made it a fraud. My guess is I am misunderstanding something you are trying to communicate.
Well, it’s more “you steal 8 billion dollars and gamble them on all-or-nothing bets where if you win you are planning to spend them on EA”. I think that totally counts as EA.
Like, Sam spent that money in the hopes of growing FTX, and the was building FTX for earning to give reasons.
I talked to many people about Sam doing shady things before FTX collapsed. Many people definitely endorsed those things. I don’t think they endorsed stealing customer deposits, though honestly, my guess is a good chunk of people would have endorsed it if that wouldn’t have resulted in everything exploding (and if it was just like a temporary dip into customer deposits).
I don’t understand the second paragraph. Yes, Sam tricked people into depositing money onto his exchange, which he then used to fund a bunch of schemes, mostly motivated via EA and with the leadership team being substantially populated by EA people. Of course the customers didn’t want to help EA, that’s what made it a fraud. My guess is I am misunderstanding something you are trying to communicate.
A simpler way to phrase my question is “If you steal 8 billion and spend 7.9 billion on non-EA things, did you really do it for EA?”
Well, it’s more “you steal 8 billion dollars and gamble them on all-or-nothing bets where if you win you are planning to spend them on EA”. I think that totally counts as EA.
Like, Sam spent that money in the hopes of growing FTX, and the was building FTX for earning to give reasons.