CRYPTO SCAMMER Sam Bankman-Fried (FTX) Given RIDICULOUS Interview! — Transcript

Full transcript

1. 0:00one of the the letters I got I want to
2. 0:03read to you Sam
3. 0:04because it's from a gentleman who said
4. 0:07that he lost his life savings
5. 0:09and the subject line is sandbankment
6. 0:11freed stole two million dollars from me
7. 0:14says Andrew can you please ask SPF why
8. 0:18he decided to steal my life savings
9. 0:21and the 10 billion dollars more from
10. 0:23customers to give
11. 0:25to his hedge fund Alameda
12. 0:32foreign
13. 0:34how's everybody doing my name is Anthony
14. 0:36Brown Logan and today we got to talk
15. 0:38about this ridiculous interview that New
16. 0:40York Times gave to Sam Benjamin freed of
17. 0:43FTX now if you don't know who SBF is or
18. 0:47FTX is or what's going on let's back up
19. 0:51a little bit before we get to the actual
20. 0:52interview and if you want to see the
21. 0:53full hour plus long interview without my
22. 0:55commentary the link as always will be in
23. 0:58the description box below first things
24. 1:01first what's going on here well FTX is
25. 1:05or was a crypto exchange platform so
26. 1:09basically here's how it would work you
27. 1:11would give FTX cash money and they were
28. 1:15supposed to invest it into
29. 1:16cryptocurrency they had their own coin I
30. 1:18forget what it was called the SPF coin I
31. 1:20don't know what it was but they had
32. 1:22their own main coin they would invest in
33. 1:24and then other coins and that's how it
34. 1:26would work and money should be safe
35. 1:28there you had a bunch of celebrities
36. 1:29involved with it Tom Brady gazelle
37. 1:32blanching a lot of big name people were
38. 1:34involved it the company at one point was
39. 1:38worth 40 billion dollars would it be 40
40. 1:42billion dollars it's now worth 100 000
41. 1:45SPF was worth about 25 billion himself
42. 1:48he now has the 100 Grand on the credit
43. 1:51card and that's it
44. 1:52so if you invested into FTX your money's
45. 1:57pretty much gone and it probably won't
46. 1:58come back now the reason why it's not in
47. 2:01the penitentiary right now for fraud and
48. 2:03theft or whatever it is because he's
49. 2:05actually in the Bahamas not the US okay
50. 2:08and as a matter of fact I think his
51. 2:09company was incorporated in the Bahamas
52. 2:12to prevent U.S jurisdiction
53. 2:16funny how that works when that was
54. 2:18already like that before the whole
55. 2:19alleged fraud happened now let's get
56. 2:22into the clips of course again the full
57. 2:25theme will be in the description and
58. 2:27these clips will be in the description
59. 2:28as well just to have like little quick
60. 2:30sound bites but here's a very bizarre
61. 2:33introduction where you actually got
62. 2:35Applause from the crowd
63. 2:37on behalf of everybody here and on
64. 2:38behalf of the public I want to thank you
65. 2:40for engaging in it at a time in truth
66. 2:42when I know you've been advised not to
67. 2:44so thank you so very very much
68. 2:46um thank you
69. 2:49like no you don't get no applause you
70. 2:51don't get no applause just like look man
71. 2:53people's whole life savings are just
72. 2:56gone totally gun and throughout this
73. 2:59interview they'll try to make it be like
74. 3:01oh it was a mistake it was an accident
75. 3:02and I just got caught up in it and
76. 3:05really screwed up we're going to talk
77. 3:07about that and we're going to talk about
78. 3:08how that's just BS all right but that's
79. 3:11that's the first clip and here is a
80. 3:14little bit of a longer win let's check
81. 3:15it out
82. 3:16because right now are you in the Bahamas
83. 3:18because you think you can't leave
84. 3:21uh no I'm I'm in the Bahamas I know I I
85. 3:24have been in in the Bahamas for the last
86. 3:26year and you know I've been running FTX
87. 3:28from the Bahamas you know been running
88. 3:30FTX digital Market our you know primary
89. 3:33operating entity down here
90. 3:35um you know with with you know Bohemian
91. 3:37uh regulators and uh you know others in
92. 3:40in in in contact and uh you know right
93. 3:45now I'm you know I'm looking to be
94. 3:47helpful anywhere I can with any of the
95. 3:49global entities that uh you know that
96. 3:52would want my help do you think you
97. 3:54could come to the United States or go
98. 3:56elsewhere no I I I to my knowledge I
99. 3:59could to my knowledge you you said that
100. 4:02quite a bit I understand this understand
101. 4:03who this guy is his parents are both
102. 4:05lawyers his parents are both lawyers
103. 4:07they teach law and wait Stanford or MIT
104. 4:10or something like that so he knows how
105. 4:14to use lawyer lawyery language because
106. 4:16he knows what he's saying right now
107. 4:17could get brought up in court to my
108. 4:19knowledge oh I didn't know not to my
109. 4:21knowledge so he could say possible
110. 4:23deniability oh well I didn't know that
111. 4:25what I was saying was incorrect or I
112. 4:27didn't give a declarative statement
113. 4:28you'll see that quite a bit throughout
114. 4:30these clips
115. 4:31have you thought about doing that
116. 4:34I I've thought about it and
117. 4:37um you know I mean I mean I've seen a
118. 4:40lot of the uh obviously all the hearings
119. 4:43that have been happening I you know
120. 4:45would not be surprised if you know
121. 4:47sometime I am you know up there talking
122. 4:50about what happened to our
123. 4:51Representatives or
124. 4:53um you know wherever else is is most
125. 4:55appropriate How concerned are you about
126. 4:57criminal liability at this point
127. 5:00so I don't think that I mean obviously I
128. 5:02don't I don't personally think that I
129. 5:04have uh you know
130. 5:06but I I think the real answer is that's
131. 5:10not
132. 5:11it sounds weird to say but but I think
133. 5:13the real answer is that's not what I'm
134. 5:15focusing on
135. 5:17um it's uh there's gonna be a time and a
136. 5:21place for me to
137. 5:22sort of think about
138. 5:25myself and my own future but I gotta
139. 5:27pause right here the way this guy's
140. 5:29talking
141. 5:29does he always speak this way I would
142. 5:32not give this guy one red Cent on my
143. 5:33money people gave him their whole life
144. 5:35savings at a certain point it's like
145. 5:37well worst personal responsibility yeah
146. 5:39I'm not going to just game on my life
147. 5:40savings on this guy I'm sorry I'm not
148. 5:42going to do it now I'm not trying to
149. 5:44victim blame but I'm just saying for
150. 5:46future reference look at who you're
151. 5:47giving your money to before you give it
152. 5:49to him and note the same way I would not
153. 5:51give some uh guy some dope boy in the
154. 5:55street some money to quote unquote flip
155. 5:56I would not give this nincompoop one red
156. 5:59scent of my heart earned US dollars I
157. 6:02don't think this is it like
158. 6:05right now I mean look I I've had a bad
159. 6:08month
160. 6:09um oh you've had a bad month okay this
161. 6:11is nothing and the crowd laughs what
162. 6:14kind of crowd is this like who are these
163. 6:15people in the crowd what what is going
164. 6:17on here is that funny
165. 6:19that's not what matters here like what
166. 6:22matters here is the millions of
167. 6:25customers what matters here is all the
168. 6:28stakeholders in FTX uh who who got hurt
169. 6:31and and trying to do everything I can to
170. 6:34help them out and
171. 6:36you know as long as that's the case like
172. 6:39I don't think that I don't think that
173. 6:42you know what happens with me is the
174. 6:44important part of that and I don't think
175. 6:46that's what it makes sense for me to be
176. 6:48focused man talking about having
177. 6:49somebody hard to follow him like this
178. 6:51guy just I thought Kanye was hard to
179. 6:54follow when he speaks but this guy right
180. 6:56here good grief man can you form a
181. 6:58complete sentence without all the extra
182. 7:00stuff off of the the filler words and
183. 7:04everything else I mean good night all
184. 7:06right so here we go see okay here's
185. 7:08something else here's another clue the
186. 7:10thing that he was doing allegedly was
187. 7:12taking money from FTX and putting that
188. 7:15to his hedge Point called Alameda okay
189. 7:18which is two different two different
190. 7:19entities which is something you
191. 7:21shouldn't be doing the money for FTX
192. 7:24should be going to work customers
193. 7:27portfolio of coins of digital currency
194. 7:31it shouldn't be going to another entity
195. 7:34called Alameda a hedge fund which they
196. 7:37did not sign up for
197. 7:39you see that's not your commingling
198. 7:41funds and you'll hear the way he speaks
199. 7:43about it here again more lawyer language
200. 7:46I feel pretty embarrassed to have made
201. 7:50um I mean a lot of these are but I
202. 7:52substantially underestimated what the
203. 7:53scale of market crash could look like
204. 7:55and what the speed of it could look like
205. 7:57and how correlated but does that just
206. 7:59suggests that you were just hoping
207. 8:01perhaps hoping against hope that this
208. 8:03would all work out and that nobody
209. 8:05therefore would realize what this
210. 8:07co-mingling was all about that's called
211. 8:10a punches Kingdom basically or that's
212. 8:12like the spirit of a ponzi's game you
213. 8:14want to keep getting new money in to pay
214. 8:16old money out
215. 8:19and by the way the way this whole thing
216. 8:21unraveled there was another crypto firm
217. 8:23I forget what it's called I think it's
218. 8:25in China or it has a Chinese executive
219. 8:26Chinese CEO
220. 8:29um they pulled their
221. 8:32position on a bunch of coins that
222. 8:37um FTX had
223. 8:39and once they did that it kind of
224. 8:40created a run on the quote unquote Bank
225. 8:42a lot of the big players in FTX took
226. 8:45that money out so once the big players
227. 8:47were dying the big money could no longer
228. 8:50pay the smaller money so the whole thing
229. 8:53fell apart it was upon two skiing
230. 8:55essentially
231. 8:58so
232. 8:59it's not how I viewed it and in
233. 9:02particular again
234. 9:04most of the firms had marching positions
235. 9:06most of the firms had boroughs on FTX
236. 9:09the problem here this one was this was
237. 9:12too big it was I was surprised by the
238. 9:15size that's too big it's it's assets
239. 9:17that look it sounds like there were
240. 9:20assets that may have been allowable to
241. 9:22be loaned
242. 9:24but then there were assets that weren't
243. 9:25allowable to be loan no
244. 9:28so
245. 9:30uh I'm still looking into the details of
246. 9:33some pieces of this but
247. 9:35I do think that
248. 9:36um in addition to
249. 9:39um what I had seen as sort of a lot of
250. 9:40the standard borrows here that
251. 9:45um we scroll back to 2018
252. 9:48uh or to 2019 I guess
253. 9:51um
254. 9:52FKS didn't have bank accounts it didn't
255. 9:55have any bank accounts globally
256. 9:56we were trying to get them
257. 9:58um
258. 9:59it took us a while took us a few years
259. 10:03um and
260. 10:04you know there are customers who wanted
261. 10:05to wire money to FTX
262. 10:07and so I think in the meantime
263. 10:10um some of them were wiring money to
264. 10:11Alameda research to get credited on it
265. 10:14and uh I think that was a substance is
266. 10:18that how that works though like if I if
267. 10:19I was to go to ftx.com or whatever the
268. 10:21website was and say hey you know what I
269. 10:23want to invest in crypto would I just be
270. 10:26like would I bypass that and go to your
271. 10:28your hedge fund and be like hey I'll
272. 10:30give money to Alameda and then Alameda
273. 10:33would give money to FTX and then they'll
274. 10:35invest it that way that'll make no sense
275. 10:37at all how are you going to be able to
276. 10:38make sure that that whole exchange
277. 10:40happens properly and there's no fraud
278. 10:42involved I I call BS on that or maybe
279. 10:45they did that but for certain kind of
280. 10:46people which is a workaround but not an
281. 10:49ethical or legal workaround if it's
282. 10:52legal I can't tell it doesn't appear to
283. 10:53be legal because if I invest in the
284. 10:55hedge fund I invest in the hedge fund
285. 10:57not
286. 10:58ftas crypto exchange if I invest in FTX
287. 11:01crypto exchange I invested there not a
288. 11:04hedge fund so that's not how that should
289. 11:06work let's keep on going here the actual
290. 11:08song uh and I think that the ftx's
291. 11:12internal accounting did correctly
292. 11:14effectively try to debit Alameda uh for
293. 11:17sure so it's fun well how about the
294. 11:20money took off real estate you took out
295. 11:21300 million dollars of real estate you
296. 11:22got a whole real estate portfolio like
297. 11:24BLM but to a much higher level so where
298. 11:27the money come from for that what's it
299. 11:29from FTX Alameda straight from the
300. 11:32customers wiring you money in your
301. 11:34personal account how did that work
302. 11:36because you took out personal money and
303. 11:38put it into your own pocket as well into
304. 11:39your own personal pocket right you dress
305. 11:42bummy but you live lavishly let's keep
306. 11:44on going but it didn't happen in the
307. 11:47primary account and so it didn't happen
308. 11:49it you know it created a discrepancy
309. 11:52between the display of the account and
310. 11:54what was really going on there and
311. 11:58um I and I'm still looking into exactly
312. 12:00how that yeah I call BS I call BS what
313. 12:04what are your lawyers telling you right
314. 12:06now
315. 12:07are they suggesting this is a good idea
316. 12:10for you to be speaking
317. 12:12they're very much not
318. 12:14um uh and uh I mean you know the classic
319. 12:18advice Rays don't say anything uh you
320. 12:21know recede into a whole uh and that's
321. 12:25not who I am I mean it's not who I want
322. 12:27to be I don't have
323. 12:29I I ain't got a duty to talk to people I
324. 12:31have a duty to explain what happened and
325. 12:33I think I have a duty to do everything I
326. 12:35can to try and do what's right if there
327. 12:38is anything I can do to to try and help
328. 12:41customers out here and uh
329. 12:44okay we got some more clips
330. 12:48here's one it's pretty interesting
331. 12:51today
332. 12:53I I was as truthful as as I as you know
333. 12:58I'm knowledgeable to be there's there's
334. 13:00see there were the lower language I'm
335. 13:03truthful as I'm not eligible to be wow
336. 13:06talking about straight from your parents
337. 13:08right straight from your parents saying
338. 13:09a book straight from the uh your parents
339. 13:11classroom okay your lawyer parents
340. 13:14there's some things I wish I knew more
341. 13:15about but yes I was so let me ask you
342. 13:18this do you agree that
343. 13:19over time you also lied
344. 13:24to I agree that I lied
345. 13:27I don't know if times when I divide I
346. 13:30think
347. 13:31look there are certainly times when I
348. 13:33was acting as a
349. 13:36um as a representative as a marketer for
350. 13:39FTS and when I was looking for uh how
351. 13:43can I you know in a way which is
352. 13:46today wow okay yeah a couple more here
353. 13:51um I can put the rest of these in the
354. 13:54Box
355. 13:54definitely that's the one I was playing
356. 13:56earlier about the the whole life savings
357. 13:58thing let's play this last one right
358. 14:00here and then the rest will be in the
359. 14:01description if you want to see anything
360. 14:02full
361. 14:04um hour plus long interview and also
362. 14:05these clips
363. 14:07um there have been pictures taken of
364. 14:09something called uh msam uh which
365. 14:11apparently increases levels of dope into
366. 14:13the brain it's actually for Parkinson's
367. 14:15were you taking that it's a patch
368. 14:18so I it it's funny hearing this I I had
369. 14:22my first sip of alcohol after my 21st
370. 14:25birthday and I think I I have maybe half
371. 14:27a glass of uh of alcohol a year roughly
372. 14:31speaking there were no wild parties here
373. 14:34when we had parties we'd play board
374. 14:36games and you know 20 of people would
375. 14:39have three quarters of a beer each or
376. 14:41something like that
377. 14:43um and you know the rest of us would
378. 14:44would not drink anything now here's
379. 14:47something else there was allegations
380. 14:49that there was a bunch of you know
381. 14:51fornicating going on uh a throuple or 10
382. 14:55people in a relationship and that kind
383. 14:57of thing that was the rumor also
384. 15:00um the person or the girl his girlfriend
385. 15:04or something some kind of girl that's
386. 15:06close to him was over at Alameda in
387. 15:09charge of that and she was on drugs so
388. 15:13when this whole story comes out when all
389. 15:15the information comes out
390. 15:17there's going to be a lot more than what
391. 15:19you're trying to let on right here a lot
392. 15:20more I'll leave that right there again
393. 15:23all other Clips in the full interview
394. 15:25will be in the description
395. 15:28but that's that
396. 15:29um and the reason why he's not in the
397. 15:32penitentiary right now is because he's
398. 15:33in the Bahamas so there's some issues
399. 15:35right there is he going to get
400. 15:36extradited is he going to get charged by
401. 15:38the federal rallies can they charge them
402. 15:40because the company was in the Bahamas
403. 15:42at the U.S so you're dealing with some
404. 15:44kind of things over there like you got
405. 15:46to work through all of that to figure
406. 15:48out how to get them back to the US and
407. 15:49then what are you going to charge them
408. 15:51on is it going to be fraud is it like
409. 15:53what's the actual
410. 15:55charge and penalty and
411. 15:58what not going to be but as I close I
412. 16:01want to say this cryptocurrency I'm not
413. 16:03really a fan of the blockchain
414. 16:05technology I think I'm a fan of that and
415. 16:08the way that that works but as far as uh
416. 16:10crypto
417. 16:12um and just trying to invest into it to
418. 16:15make money it's it's kind of like
419. 16:16gambling really you might be able to
420. 16:17make money sure
421. 16:19especially on bitcoin ethereum some of
422. 16:21your bigger coins but these
423. 16:23quote-unquote s coins the the bad coins
424. 16:25the the random ridiculous nonsense you
425. 16:27see on Twitter occasionally I would not
426. 16:30put one ratchet into it these uh crypto
427. 16:32exchanges I don't want to invest any
428. 16:35cash into that and I think what's going
429. 16:37on right here with f with SBF and FTX
430. 16:40should be an example of why the whole
431. 16:44thing with crypto investing might not be
432. 16:46a very good idea but I think I'll leave
433. 16:48that right there for now and what said
434. 16:50you how do you feel about this interview
435. 16:51from Sam binkerman freed over on the New
436. 16:55York Times with MSNBC correspondent
437. 16:57Andrew Ross Sorkin whatever your
438. 16:59thoughts are let me know in the comments
439. 17:00below you guys know where I'm at this is
440. 17:02a cautionary tale about cryptocurrency
441. 17:04and about investing about some of these
442. 17:06guys that say they have your best
443. 17:08interests at heart but do they really
444. 17:09where is money really going you're
445. 17:11giving money to this guy talking about
446. 17:12hey invest that into crypto keep my
447. 17:15money safe but then he puts it over into
448. 17:17a hedge fund what part of the game is
449. 17:19that
450. 17:21whatever your thoughts are please let me
451. 17:23know in the comments below and that's
452. 17:25all I gotta say for this video if you
453. 17:27like what you heard please comment rate
454. 17:30share
455. 17:31And subscribe
456. 17:34peace