Some highlights have been hidden or truncated due to export limits.

Some highlights have been hidden or truncated due to export limits.

the more important he became in the eyes of the world, the more important these games became to him.

Eventually he came to the view that we needed to give what we had to others until the cost to ourselves outweighed the benefits to them. We needed to stop thinking of charity as a thing that was nice to do but okay not to do, and begin to think of it as our duty.

Before he could do any of this, he needed to get rid of CZ. CZ still owned the stake in FTX that he had bought in late 2019 for $80 million. Relations between Binance and FTX had since deteriorated into simmering resentment. Binance was the class bully, FTX the class nerd,…

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The remaining employees were also in the position of Bob’s friend, in that most of them didn’t understand what had happened. Sam had fully absorbed the Jane Street management technique of letting the rank and file see only their tiny piece of the puzzle, reserving for himself a view of the whole. Gary, though unintentionally, had done something sim

Inside of three years, it appeared, Sam Bankman-Fried had created a business so valuable that his share of it implied that he was now the richest person in the world under the age of thirty. “When I first looked at the numbers, I was like, Can this really be true—can this guy really be worth twenty billion dollars?” said Chase Peterson-Withorn, who

And yet it still obviously had lots of room to grow. Its biggest rival, Binance, had five times the trading volume of FTX, which meant that it likely had roughly five times FTX’s revenues and five times FTX’s market value. The experts who tried to determine the present value of rich people had trouble putting a number on CZ’s. No one was sure how m

Very early on, Sam realized that he’d need to acquire abilities most people just took for granted. But he also knew that he could take for granted…

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