Sam Bankman-Fried Prison Sentence Shaped by FTX Crypto Fraud – Bloomberg

But Bankman-Fried’s case revealed a version of the former billionaire that’s more disturbing—and especially troubling for an industry bent on sweeping the whole episode under the beanbag. According to an examination of trial testimony, thousands of pages of exhibits and interviews with insiders, Bankman-Fried’s rise appeared to rely on tricking customers, investors and banks almost from the very beginning. His genius, if one can call it that, was recognizing that the mania around crypto would enable him to get away with totally disregarding the rules.

Imagine crypto trading as a video game. Bankman-Fried certainly did. His gaming addiction was a running theme throughout Lewis’ bestselling book Going Infinite: The Rise and Fall of a New Tycoon and was well known even to his own investors, who caught him playing League of Legends during a pitch meeting. Helping himself to FTX customer money was like turning on invincible mode. It let him gamble like he’d never lose and spend like he’d never go broke. His race to billionaire status was so fast that one tech blogger compared it to a speedrun of The Legend of Zelda.

Source: Sam Bankman-Fried Prison Sentence Shaped by FTX Crypto Fraud – Bloomberg