Unable to afford security, his parents had instead bought this extremely large dog, named Sandor. Sandor had been flown in from Germany, where he had been trained to kill on command. The commands were in German, however, and while Sam’s parents had learned them, Sam had not.

Gary had owned a piece of Alameda Research, but his stake in FTX was far more valuable. Nishad owned a big chunk of FTX and none of Alameda Research. Ditto Caroline, who ran Alameda Research but owned shares only in FTX. None of these people had any interest in moving money out of FTX into Alameda Research in a way that put FTX in jeopardy. Just th

As a legal matter, at 4:30 in the morning on Friday, November 11, 2022, Sam Bankman-Fried DocuSigned FTX into bankruptcy and named John Ray as FTX’s new CEO. As a practical matter, Sullivan & Cromwell lined up John Ray to replace Sam as the CEO of FTX, and then John Ray hired Sullivan & Cromwell as the lawyers for the massive bankruptcy.

11 Truth Serum

Constance assumed, might soon be going to jail. Sam liked having Manfred around that much. Constance and Quinn had gone back and

The list of questions I showed up with whenever I met with Sam always felt like one of those trick drinking glasses that refills itself after you’ve taken a gulp. His answers always led to even more questions.

And it was true that Sam’s massive holdings of Solana and FTT—and other tokens of even more dubious value—had crashed. They’d gone from being theoretically worth $100 billion at the end of 2021 to being worth practically zero in November 2022. But Sam had paid next to nothing for these tokens; they had always been more like found money than an inve

In the previous three and a half years, nearly $9 billion more had entered Sam’s World than had exited it. When FTX stopped returning funds to customers, on Tuesday, November 8, it still had $3 billion on hand. That dropped the missing sum to $6 billion. (The

She’d come onto the screen and announce that she had found $200 million here, or $400 million there, as if she’d just made an original scientific discovery. Some guy at Deltec, their bank in the Bahamas, messaged Ramnik to say, Oh, by the way, you have $300 million with us. And it came as a total surprise to all of them! Eventually Ramnik gathered