A book about former FTX CEO Sam Bankman-Fried is ready, or nearly ready. Michael Lewis, bestselling author of The Big Short: Inside the Doomsday Machine and Moneyball: The Art of Winning an Unfair Game, revealed that he is nearly finished writing his own book on SBF and the crash of crypto exchange FTX.
Lewis' next book on Bankman-Fried is called Going Infinite: the Rise and Fall of a New Tycoon. Speaking at the Bitcoin 2023 conference in Miami on May 19, Lewis did not provide a specific release date, but said he wants the book to be published around the time the SBF process begins in October.
On Amazon, however, he shows that the book has a tentative release date of October 3. Lewis revealed that he has interviewed people from SBF's inner circle, FTX employees, and government officials from the Bahamas and the United States.
In addition, he had the opportunity to meet with SBF for two years, with the founder of FTX continuing to allow Lewis to interview him during his house arrest in Palo Alto, California. The author said: "I had this conversation with a person who I used as a sounding board...
and he said to me: Your problem is that you don't have a third act. You have the first two acts, but you don't have a third act And I said: It's absolutely true, I don't know how to end it. A week later, FTX explodes. I was delighted with it.
It's pitching like a novel. If you didn't know anything about cryptocurrencies, you wouldn't even know who FTX is. If you didn't even know who is Sam Bankman-Fried, you might think: This is just a made up story." We recall lawyers for the company FTX are suing co-founder and former CEO Sam Bankman-Fried over the acquisition of stock-clearing platform Embed, according to an official filing filed in a Delaware court document.
FTX US's acquisition of Embed Financial Technologies Inc. was intended to incorporate into the group the subsidiary Embed Clearing LLC, a new clearing firm member of FINRA, DTC, NSCC, Nasdaq and IEX. FTX lawyers are suing the company's former CEO, Sam Bankman-Fried, accusing him of failing to do due diligence before buying Embed.
Moreover, the purchase of the platform in 2022 was made against an outlay of 220 million dollars. FTX lawyers said: "The bidders realized what FTX Group and FTX Insiders didn't bother to evaluate prior to the Embed acquisition, which is that Embed's vaunted software platform was essentially worthless."
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