Jamal Al-Farouq This week, the distinguished author Michael Lewis, known for his bestsellers including “The Big Short,” “Moneyball,” and “Flash Boys,” has initiated a comprehensive marketing campaign for his newest book. This work focuses on Sam Bankman-Fried, the embattled co-founder and prior CEO of FTX. Titled “Going Infinite: The Rise and Fall of a New Tycoon,” the book probes into the multifaceted life of Bankman-Fried, shedding light on his belief that life is essentially a “game.”
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Michael Lewis Discusses FTX’s Originator on ’60 Minutes’ Amidst Critical Scrutiny
Well-regarded American writer Michael Lewis is currently on a promotional trail for his new book, centering on Sam Bankman-Fried, the co-founder of FTX. Lewis, who has spent a significant amount of time with his subject, recently appeared on a “60 Minutes” segment to talk about the focal character.
In the interview, Lewis pointed out that FTX “had a genuinely robust enterprise — If there had not been negative presumptions about the business or a massive withdrawal of customer funds, the company would still be highly profitable.”
Lewis elaborated that Bankman-Fried has concentrated on several key areas such as pandemic mitigation, effective philanthropy, and confronting issues that pose a threat to democratic systems.
Notably, according to Lewis, Bankman-Fried even considered presenting Donald Trump with a $5 billion offer to withdraw from the electoral race. “The figure being discussed while I was in conversation with Sam was $5 billion,” Lewis stated while discussing the supposed proposal.
During his initial television appearance, Bankman-Fried was fully engrossed in a video game throughout the entire segment. Though displaying an unconventional demeanor, Lewis disclosed that Bankman-Fried established a strong rapport with seven-time Super Bowl victor Tom Brady.
“Brady found him to be a highly intriguing individual,” asserted Lewis. “I believe he valued their conversations.”
On the other hand, a plethora of viewers took issue with Lewis’s “60 Minutes” segment, criticizing his claim that FTX was a flourishing, lawful enterprise. Analyst Sam Callahan from Swan Bitcoin argued that Lewis “lacks an understanding that FTX was an exchange and not a bank, implying that its users’ assets should be fully backed at all times.”
Callahan further clarified:
The notion that a ‘run on customer deposits’ is irrelevant points to the absence of a legitimate operation here. This was sheer fraudulent activity.
Alex Berenson, a former writer for The New York Times, characterized Lewis’s comments as “preposterous.” He said, “It’s extraordinarily difficult to comprehend this level of absurdity. If Michael Lewis genuinely thinks that [Sam Bankman-Fried] is a victim in this case, then he might be exhibiting signs of early cognitive decline. If not, why make such a statement?”
In response to a question regarding Bankman-Fried’s deepest fears if he were to be sentenced to a century in prison, Lewis revealed that the loss of internet connectivity would be his greatest concern. “I am of the opinion that, if internet access were available to him, he could endure an indefinite period of incarceration,” the author concluded.
What are your views on Michael Lewis’s interview and his portrayal of Sam Bankman-Fried? We invite you to share your insights and opinions on this topic in the comments section below.
Frequently Asked Questions (FAQs) about Michael Lewis’ New Book on Sam Bankman-Fried
What is the central focus of Michael Lewis’ new book?
The central focus of Michael Lewis’ latest book, “Going Infinite: The Rise and Fall of a New Tycoon,” is on Sam Bankman-Fried, the embattled co-founder and former CEO of the cryptocurrency exchange FTX. The book delves into various facets of Bankman-Fried’s life and explores his controversial career.
Who is Sam Bankman-Fried?
Sam Bankman-Fried is the co-founder and former CEO of FTX, a cryptocurrency exchange. He is a polarizing figure with a background in various initiatives, ranging from pandemic mitigation to effective philanthropy. He has also explored political moves, including a purported $5 billion offer to Donald Trump to withdraw from an election.
What does Michael Lewis reveal about FTX?
Michael Lewis claims that FTX had a “genuinely robust enterprise” and would have continued to be highly profitable had it not faced negative presumptions and a massive withdrawal of customer funds. This assertion has drawn criticism from several quarters, questioning the legitimacy of FTX as a business.
What are the controversial points raised in the interview with Michael Lewis?
One of the major controversial points is Lewis’ assertion that FTX was a legitimate and flourishing business. This has been challenged by critics who argue that FTX was not a bank and should have had its users’ assets fully backed at all times. Another point of contention is Lewis’ revelation that Bankman-Fried considered offering Donald Trump $5 billion to exit an electoral race.
What did Michael Lewis say about Sam Bankman-Fried’s relationship with Tom Brady?
Michael Lewis disclosed that Sam Bankman-Fried forged a strong rapport with Tom Brady, the seven-time Super Bowl champion. Brady found Bankman-Fried to be a highly intriguing individual and valued their conversations.
What is Sam Bankman-Fried’s greatest fear, according to Michael Lewis?
According to Michael Lewis, Sam Bankman-Fried’s greatest fear, if sentenced to a century in prison, would be the loss of internet access. Lewis opines that Bankman-Fried could endure an indefinite period of incarceration if he had access to the internet.
What has been the public response to Michael Lewis’ interview and new book?
The public response has been divided. While some are intrigued by the deep dive into Bankman-Fried’s life and the controversies surrounding FTX, others criticize Lewis for what they perceive as a lack of understanding of the cryptocurrency exchange business and for potentially misleading portrayals.
More about Michael Lewis’ New Book on Sam Bankman-Fried
- Michael Lewis’ Official Website
- FTX Official Website
- 60 Minutes’ Segment on Michael Lewis and Sam Bankman-Fried
- Swan Bitcoin Official Analysis
- Alex Berenson’s Critique on Social Media
- Tom Brady’s Professional Career
- Effective Altruism Overview
- Past Works of Michael Lewis
- Public Opinion on ‘Going Infinite: The Rise and Fall of a New Tycoon’
- Controversies Surrounding Cryptocurrency Exchanges
7 comments
Lewis is a great writer, no doubt. But feels like he’s jumping on the crypto bandwagon a bit late. and why make Bankman-Fried look like a victim?
Bankman-Fried and Tom Brady? Now that’s an odd pair. Wonder what those two chat about, maybe how to win Super Bowls and crypto trading? lol.
I don’t get it. Why’s everyone so fixated on FTX being a legit business? If it was, wouldn’t have all this controversy, would it?
Wow, Michael Lewis writing about crypto now? That’s a turn. But kinda worried he’s just sensationalizing things again.
Love how Lewis always dives deep into his subjects. But offering Trump $5 billion to bow out, really? What was Bankman-Fried thinking?!
Lewis has this way of making anyone sound interesting, even a guy playing video games in a TV interview. Can’t wait to read the book.
This books gonna be another hit for Lewis, mark my words. But I gotta agree with that Swan Bitcoin guy, FTX is no bank, needs to be 1:1 backed.