The Fake Genius: a $30 BILLION Fraud.
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- Опубліковано 31 сер 2023
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Sam Bankman-Fried (SBF) was supposed to be a billionaire genius running the world's largest Crypto exchange: FTX. In only a few weeks, his $32B empire crumbled, leading to his arrest. In this video, we unravel one of the decade's most significant cases of financial fraud.
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Director: James Jani.
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Research: Danny Hatcher, James Jani.
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![How to Lie Your Way to $34 Billion [Nikola Motors Fraud]](/img/n.gif)
🚨 UPDATE: SAM BANKMAN-FRIED FOUND GUILTY OF ALL COUNTS OF FRAUD AND CONSPIRACY, after a month-long trial. Sentencing will be in March 2024.
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Great video James! You inspire upcoming creators like myself.
Great guy 💯❤️
Why support you monthly if you only make one video every 8 months? Or do you plan to start uploading more regularly?
@@lovegod8582 Because quality takes time. If you have worked on a project, you also get paid for the months, not for the result, right? If not, you have shitty contracts.
Where the hell have you been man!!!😢 welcome back
At which point do we call out Forbes? They've been promoting scammers for decades while still being taken seriously
Because it's a feature of capitalism. Not a bug. The originator of the "Ponzi scheme," Charles Ponzi himself, told investors he would buy postal reply coupons at foreign exchanges and sell them in the U.S. for a massive profit, just like SBF's original scam based on crypto exchanges in Asia.
Forbes really needs to fire whoever they put in charge of vetting people
Lol the Kylie Jenner self-made billionaire bit was ridiculous of Forbes
Was Forbes the one who asked users to turn off adblock with a huge page covering the screen and then served malvertisements to people?
True. It's clickbait.
And this, ladies and gentlemen, is why you don't sink your lifesavings into an unproven unregulated financial system endorsed by celebrities.
It amazes me how many people don't diversify. Like I'm hardly some big investor but even I've got a good diversification between asset types. It's one of the things that annoys me when the government steps in to try and protect me, for example with something like Lending Tree I knew the risks I knew they were personal loans but no the government says I can't invest in that unless I'm one of the elites. Let people fail, I'm tired of the hand holding to save the people who don't pay enough attention.
Emphasis on *UNREGULATED*. I genuinely feel for people who were pulled into the luring promise of fast money, but the old saying is so old because it always applies. If it's too good to be true, it probably is.
@@ChaosTherum It also amazes me how much people throw into the market that they can't afford to lose. I treat investment money as gambling money. If I somehow happen to lose all of it now, I would still be okay, but I'm also not dumping all my paychecks, bonuses and raises into one system.
The word 'celebrity' is probably the 2nd most offensive word beginning with the letter C.
@@tonyadams8812 crab
I love how people think that looking kinda shaggy and wearing plain comfortable clothes is unique among smart/wealthy people and somehow makes that person more trustworthy than the average rich person.
It's cause they look closer to the "common man". This is a psychological trick - "They look like me = they can relate to me better"
It works that why every election year politicians try to act as if they are equal as the common man as close as possible
@@Despicable_Gamer😅😅😅
No they trusted him because he was very good at what they where looking for .These investors you think your better than where and alot still are alot richer than you
Just another shady Ju-boy like Madoff...
"more powerful than a balance sheet, is a story" As an accountant, that pains me to the core. The amount of ppl that will blindly believe in someone/something with so little pushback or financial evidence is troubling.
One word.......GREED
The world runs on dreams, my friend.
@@arthurswanson3285 That may be, but in the world of business, those dreams must be supported by results.
@@arthurswanson3285 🤣
So... Are stock market still investable knowing crypto industry went down? Name one pls.
My Uncle jumped in front of a train and committed Suicide as he lost his entire wealth with FTX. It was a devastating moment inside our family. He worked 3 jobs, saved up all the money, and invested in FTX.
I'm sorry that happened to him.
Jesus
My condolences, really sad for you and your family
Sorry but your uncle should not have invested everything on one thing. Even if FTX was still around not a good idea
Ouch.Hope your family is ok now
SBF was never an underdog, he was born to academic elites from Stanford, had a brother with enough clout to become director of an org that Sam defrauded, was enrolled in Mathematics Olympics programs and graduated from MIT. He had all the chips in the right place to become a narcissistic fraudster.
SBF is a literal mooch just like all those other richies
Well said, I agree
Meet Mary Mason she will help you recover ITP losses and put you through the trusted platform to be earning your profit
She's on telegrams
That was part of his lie...
UPDATE: SAM BANKMAN sentenced to 25YEARS IN MARCH 28, 2024!
hell yeah
the whole "look, he drives a corolla and wears regular clothes" thing is hilarioussssss. you think thats gonna make me relate to the mega-elite? lol!!!
There are analogs: Warren Buffett (the biggest beneficiary of Obama's bank bailouts) "is a good guy who is just like the commoners because he still lives in the same little bungalow in Nebraska." Bill Gates is a good guy because he's spreading vaaaaagzeens to Africa. It's all part of the salesmanship to get us to hand over our money/take the dose.
I can't even afford a car, what makes them think a *Toyota Corolla* is relatable?
What makes me laugh is the whole making sure new investors saw him sleeping on a beanbag in the office .
If I saw that , I would just leave , it screams incompetent and slob
@@amagimofumofu6549 Exactly. Why would I trust my crypto with a guy who looks like a hobo?
@@SunshowerWonderlab i can barely get an iPhone 15😂 like
Cannot believe we get these high quality Netflix worthy documentaries completely for free. Ur the best james
Don't you think someone is behind all this? Everyone got paid to do this. There's no free lunch.
@@silviomp4M views is the person behind it ofcourse he gets funds to make videos but mainly the views probably
@@eloo224 Here in Brazil there's a company that sponsors/manages the top 40 influencers on Instagram, TikTok etc. People think it's all organic, but it's all orchestrated.
Netflix is shit.
@@bekiraltindal9053 We live in a time when garbage is considered gold just because garbage is beautifully wrapped up.
Imagine you are looking to invest $1 billion dollars and the CEO of the company you visit starts playing video games during the visit… and this is somehow a green light? Never underestimate the stupidity of people when they think they can get rich quick 👍
She's on telegrams
mary3437
The username
I take it the greenlight was he was soooooo successful he could take downtime.
Yeah though anyone with a brain cell would walk asap
I truly think that we as a culture have been somewhat desensitized to oddness because of how the media loves to make tv shows and movies about “the eccentric genius”. ‘Oh he’s unprofessional but he’s really great at his job”, ‘he’s unconventional but he’s a maverick at xyz’. We overthink things and assume someone is being that way because what they lack in finesse they make up for in skill elsewhere. Sometimes it’s the case, other times it’s not 😅
My fav part of that is the account believed to be his is bronze. Legit 2nd lowest rank in game and laughably bad considering the massive amount of games played on the account. Just like the investing the only reason it impressed anyone was because they had no clue what was going on
Giving Gary Wang - the person who supposedly (single-handedly) built the entire infrastructure of FTX - 10% of ownership, whilst keeping 90% to himself was such a red flag 🚩.
The reference to SBF's team as "potentially compromised" is the funniest euphemism ever for "kinda dumb" 😂😂
Yeaaah🤣🤣
The fact that I know NOTHING about Finance... NOTHING about crypto currency...
And the fact that I sat through the entire thing... And that too for A HOUR long video shows THE QUALITY of the video and the information presented.
BIG CHEERS TO THE ENTIRE TEAM 🔥
They always say... when an "investment" is on the regular news and the normal blue collar guy down the road is talking about it, you know it's a bubble and you should get out fast ! I am a BTC user and the only reason I know what regular users of BTC use it for is to buy stuff you can't normally buy in the shops so to speak. Nothing else
karlwithak. I disagree. If a video or media product can grab someone's attention and that person comes way satisfied from viewing it, then it wouldn't be "nonsense." And Finance in general is a subject worth exploring even among those who aren't necessarily interested in it. We all need and use money, after all.
You better me because I couldn’t even watch the video just the ending game
I'm always baffled by how easy it is to make money by just lying to people
And having rich/influential parents helps
scamming
Up until the moment you’re caught.
Once I see celebrities and politicians promoting it.. I question it.. they’re never on our side
laying is not good strategy Bro for long term. It always come back as much as you put out
"A-list celebrities plus Kevin O'leary" LOL
Wow
It's even funnier when you consider O'Leary made his money selling TLC to Mattel, which took a record-breaking writedown not long thereafter.
Patrick Boyle is amazing and worth watching for his dry humor.
The pacing, the feeling of mystery and investigation, the storytelling.... mind-blowing
He rose as fast as he fell. When rich people say they want to “save the world”, I cringe. They mean “ change the world “ to the way they see it by manipulating.
Yep
Bill Gates, case in point.
As they say, there's really no such thing as an ethical billionaire, no matter how much uber rich "philanthropists" try to whitewash things
exactly. so fast. i worked in an exchange as well, and it was only a few months that ftx got big. to me it was just another exchange, nothing ground breaking lol so i didnt give a fck. im glad i didnt lol.
@@rhemmielNa man he tried to create the malaria vaccine. Compared to most he's got good projects.
I’m interested in the fact that almost no one had any questions about him, this suggests that society can praise anyone in isolation from his real qualities
And the exact opposite could happen as well. People who are talented, honest, but aware of uncertain outcomes, risk, got easily flagged "unsure" or unambitious. They get rejected by investors, they tend to rejected on job interviews as well. This guy might have went too far, maybe he did not understand the line of limits in between fraud and "smart move" however thousands and thousands like him are still out there. Doing very similar schemes like he did. They are just more careful, or don't play this big.
I feel like nowadays you have to be a big narcissist to be successful
@@dekurvajothere aren't thousands of people running exchanges to funnel money into politics laundered through other nations.
The mnindless fawning should have been a clue. But the media is still doing it with Bill Gates, so we've learned nothing. In fact, the template for selling the conman to the public is identical.
@@user-hm5zb1qn6g So true regarding Gates!
“How didn’t anyone see this happening “? Because fools and their money are easily separated!
Can anyone explain AMS99T?
I can
Scam coin
Amazon scam
Scam bot
FTX is the prime example of what a giant house of cards the whole world of crypto is. People are just so desperate to believe that money can be made out of thin air, they'll deny reality right in front of their faces.
Money is made out of nothing but thin air my friend
@@AngelEllenaCurrency is not Money.
Aren't all currencies made out of thin air? It might have been different when the US dollar was backed by physical gold, but now it just gets printed like toilet paper.
I think basically the entire financial sector is a house of cards, or just straight up bullshit
@@zee6810 True & crypto is on top of the hill of BS.
If the establishment and celebrities are promoting something, if it's hyped up and it's everywhere, it's not because they care about you. Stay away. Applies to everything and always turns out to be the correct choice, without fail.
Truly tragic that so many people got swindled!
It’s like Oprah and the block head Rock raising money for Hawaii. Hey poor people all you need to do is give to the rich so they can buy up land.
history repeat itself only in a different version, people never learn
i love when they lose money and get scammed,
Can be seen with ww2 where the biggest names weren't the profitable, but the one farthest away focusing on money.
The real winners of ww2 wasn't the allies.
It was the US who basically didn't participate or praise them selves so much.
They were mostly a businessman selling to Britain while keeping their interests inland and safe.
Pearl Harbor was a piss in Mississippi to them really. At the end of the war they had a booming industry and a broken world desperate for produce.
And boy did US make bank on Europe's behalf.
Facts. Happens literally every time.
Always be wary of any "figure" the media likes to prop up.
Don’t know how I started watching this,don’t kno anything about Crypto etc or SBF or FTX but wot a thrilling,entertaining & eye opening documentary it was…the lad,James narrating the story is so clued up in this world of crypto finance.
Really enjoyed it ❤
Dude, are there awards for story telling? This was some masterpiece.
She's on telegrams
mary3437
The username
Samuel Benjamin Bankman-Fried, also known as SBF, is an American entrepreneur who founded the FTX cryptocurrency exchange.
Despite speculation, there is no official diagnosis of autism for Sam Bankman-Fried. 0:07 [Discovery ABA]
The world's first cryptocurrency, Bitcoin, has the largest market capitalization. Its established network, limited supply, and growing institutional adoption make it a relatively safe haven in the volatile crypto market. [The Economic Times]
He is kind of a genius at fraud:
1) tapped into altruistic capitalism group for investment, given their belief of not accumulating wealth for themselves and probably saw his company as a good way to increase their impact,
2) cultivated a “nerd” image to get ppl’s guard down; who’s ever been defrauded by a nerd?
3) donated/paid influencers such as Brady, O’Leary and politicians to get mainstream users for his Ponzi.
Great tips for future scammers
Yeo! Do not be conned because the exterior = nerd. A con man/woman is a con man at the end of the day!
thanks for the tips
He was better than anyone else at making billions the way he did. Regardless of method.
Have you reached even a million in valuation? Have you even created and grown businesses? No you are all here just dopamine hijacked outrage addicts who are convinced by your industrialized "schooling" that you are wage slavee who can't figure it out...... its not that hard when you are immersed in code and technology ecosystems. You learn by creating.
He is much better than any of you ever will be... even after the fraud. You know us who are pursuing these things.... we do not care if an exchange fails.... we are gathering certain things to take down the old order.
He graduated from MIT, he’s far from stupid. The nerds are not to be messed with in a world of technology.
@@TechOutAdam he’s an ivy scum, along with Do Kwon
The Bloomberg doc on this was unbearable. Way longer than it needed to be and filled with a bunch of needless AI transitions. Whereas yours was super well done; straight to the point and all the graphics were not only tame but in support of the story. Thank you
If James Jani were to make a 24 hour documentary on any subject, I would watch it without a break! What a story teller!
Ahhhh. The Simps. Your type is the problem with people. Simp up, boot licker. He doesn't produce these by himself. Why isn't you just can't like something. Instead you have to go straight to idolizing a stranger you know nothing about. Where does this mentality come from? Seriously. Athletes, musicians, actors, politicians, etc etc. You can just appreciate things people do, without going full on Fanboy, Stan, Simp, let me worship you cuz I'm brain dead mode.
Between him and coffeezilla , they are the best at breaking down these tough topics. I’m glad that they do.
I'd watch a 4 hour history of toilet paper.
Same
But it would take him 2 decades to produce it would seem^^
I love how this guy breaks everything down. He doesn't waste words, and he pieces out each bit of information into a very understandable story. This isn't exactly an easy to understand topic for me, but he made it so.
But he still has distracting background music and too loud
@@Dionysos_____AltersYour opinion. It's not distracting for me
Coffezilla has a big role in the unfolding of this heist. Havent heard this name on his documentary
100% agree
@@gineerpat8590Elaborate please, what role?
Logged in to let you know how much work you (and a small team possibly) put into this. This is incredibly well worded and presented. That doesn’t even cover it really. You MUST be proud of this aren’t you? Phenomenal
Extremely impressive production. I can't imagine how much research went into this, and then you took an incredibly complex situation and made it entertaining and easy to understand. You also made a convincing case while making it easy to track facts and opinions. Grateful to you and glad I watched this
I knew this kid and his buddies were full of crap the first time I ever heard about him. He was claiming about how he wants to do “so much good for the world” and help people while donating money to rich and insanely corrupt politicians. That’s not how it works.
Sounds a bit like Meghan Markle 😂
anyone that has ever read Watchmen knows that when someone is out to create an "altruism utopia" is dooming us all.
You figured out how the world works
Imagine put your savings into something just because Paris Hilton and Jimmy Fellon did
Like Bill Gates, keeps on talking about giving away all his money. Yet continues to get hoard more wealth each year...
My favorite part about this entire drama is that I was apparently living under a rock during the entire thing. I had no idea FTX even existed, much less that it went under (until the headlines were all over youtube).
It's not like I wasn't aware of the crypto space either, I stuck my toes in it and then immediately realized that I don't want to gamble my money away on some tech-bros money laundering schemes.
I still to this day have no idea how their entire existence flew above my head lol. I guess it worked out for me, somehow. I knew of coinbase, kraken, binance, etc, and yet not these guys. I confuse myself.
Same here 😄
ZOGonzo Circle-Signers have their fingerprints on almost everything.
No this is literally me and what I kept thinking while watching the video
@@Aanike09 i didn't watch the ZOGonzo kyx robbing my people. i'd rather watch ww2 footage of my people doing what ..WAS NEEDED TO DO at the time......now back to das finale finale solutione
You are a smart man. NFTs and Crypto are all scams.
Nicely done sir! For somebody who is outside of this culture, you did an amazing job of 1) not assuming I am too stupid to understand, and 2)connecting the dots visually as well as with your words. Cheers!
This was one of the best documentaries on UA-cam. Thank you for breaking this down so well for us.
Also him sleeping in the office is a big red flag too. Yes, the first thought that comes to mind is that a CEO sleeping in the office means they are hard-working and cares for the business. But in fact it shows that this CEO is an unhealthy workaholic who probably can't manage their own life and work hours, and probably willingly or unwillingly expects all employees to work overtime too.
It also can be a sign that CEO doesn't know how to delegate, the company is under-staffed or business processes don't work properly
Does that include Elon Musk??
Dude....Basically every big name CEO slept in their office lol.
Elon, Andrew, Mark, Bill, Carnegie
Sleeping in his office should have been a clear indication of unsustainable lifestyle, therefore an unsustainable business. The worst part is people can be told it's going to be unsustainable and still jump in thinking they'll be the ones to score and get out before it sinks
@@Ejk1221 Dude literally every single billionaire slept in their office.
Elon, Jeff, Carnegie, Bill all worked till the point they slept in their office.
I think of all the red flags in this scenerio, sleeping in your office isn’t one of them. A lot of hardworking (and not so hardworking) people sleep in their offices. It doesn’t mean anything. You could pick a hundred other things that he did wrong to point out.
CNBC gave this guy a platform and said he was legit. CNBC should be sued.
nas daily too
It'll never happen, they'll probably lawyer up real quick and create interference to save face
@@stealthagentkc Nas daily especially
tbf.....if people believe anything that msm/'influencers' spews in your general direction to be 'legit' then some important logical thinking is lacking in your day-to-day-decision-making.
:)
Unless they outright lied then they are in no way responsible.
Bad journalists maybe, but not responsible.
People should do their own research before investing and not buy into hype.
I've watched about 10 back to back clips and its just amazing how you take complex situations and make it look so simple. I'd definitely like to get together for a quick call to entertain an idea for a major recession hit to the life insurance industry and I cant think of anyone I'd like to make this documentary.
bro i dont really subcribe much to channels but you make some quality videos that rival documentaries. Thank you for the content my dude.
I’ve seen several videos and news stories about SBF, and never quite understood what exactly he did. This is the clearest, most easily understood explanation of these events I’ve ever seen. You manage to explain the crimes committed without getting bogged down in crypto nomenclature, which is difficult for most people like me outside the crypto space to understand. Masterfully done.
I'm very thankful my natural suspicion of crypto made me avoid anything involved in that business, altho lots of people around me were getting all excited at the prospect of this new magical thing that nobody quite understood ! Basically it's invented value - I place some 'thing' out there in space & 'decide' it's worth so-and-so$ , then I tell the world all about it & offer to sell these 'things' because the value is going to go up - it's the absolute con. and I believe was successful mainly because people were too scared to admit they didn't understand it !
@veronicaroach3667 it didn't start that way. The idea behind "Bitcoin" and where it got it's imaginary value was on the foundation of being the world's first sovereign currency, money that isn't tied to any government or entity, nor can it be controlled by them. An autonomous self-governing system that cannot inflate or deflate it's total supply. It was meant to be a big "fuck you" to the 2008 financial crisis, which proved that even our most trusted institutions don't always have our best interests at heart. Of course, like all interesting ideas, we humans have a talent for fucking things up. Different cryptocurrencies started sprouting, all claiming to be "better" alternatives to Bitcoin. Suddenly sovereign internet money became an industry, and with that came the conversation of "crypto banks" and "crypto financing". Didn't take long for the industry to become the very thing it sought to destroy.
Omg, I so agree. I've watched several of these videos from other content creators and James is the only one who manages to explain it in a coherent way.
I couldn't even take in and comprehend Legal Eagles video on it, and usually I find he breaks things down in a way I can understand. This is the first and only video where I can say I vaguely understand the bones of it all.
it was more his incompetency than his moral bankruptsy, and theyre going to have a hard time proving intent unless they find actual text messages stating so.
I find it hilarious that the person who actually lost the money, while high on amphetamines gets no jail time out of it as long as she makes up a story that this was Sams plan all along :P
Caroline is the one who lost the money to ridiculously bad trades! And now all she has to do is tell a slight lie/exaggeration about Sam to get off the hook.
Hope the jury is paying attention, whichever way it turns out.
This guy is the perfect example of how sick this world is.
people who claim to be "victims" are the example of how sick this world is.
@@thesorrow88 how much did you lose on this ponzi scheme ??
@@HoangNguyen-go1ne So our world of having to look around you back and trust nobody at all is such a great world? Our world is one tiny step up from the law of the jungle face it. No wonder teen su ! cide is so high when they look at what they have to look forward to in life.
@@mikesully110 your comment make no sense. First of all, stop generalizing my comment there is no "trust nobody at all" in that, I talked about this particular case of crypto currency "business" and anyone who participated in it. Second, there is no trust in this crypto frenzy to begin with. Since Crypto currency is not a legitimate business, people who put their money into that aren't investor and such, they are gamblers. They jumped into it to get rich quickly, obviously, there are no free meal in this world. Thus, I wouldn't refer to any losing gambler as "victim" at all.
@@mikesully110 " Our world is one tiny step up from the law of the jungle face it"
Trolling is for the weak, stop it.
I'm an average guy that worked an 8hr. job my full life and feel NO sympathy for the greedy millionaires who lost tons of money on FTX. A fool and his money will soon be parted and those fools who believed in this scammer got what they deserved.
Yea man. Because they usually think their believes in Crytocurrency is the way to be rich and they want you to be part of it.
Many were working class people.
They merged accounts for investors and reactivated them,why didn’t you do what others were doing?
I’m also an average salaryman and I don’t think it’s just millionaires who lost tons of money to FTX. I’d guess that most who did were working-class or middle-class. Everyone likes to think they’re impervious to scams, especially when you’re looking at the situation in hindsight when you’re not the one who got scammed, but in reality, normal hardworking people get scammed all the time.
Do I personally think it’s dumb to invest more than you can afford to lose into a new, experimental, unproven market? Yes, of course. I haven’t been enthusiastic about crypto since like 2013. But I can’t entirely blame anyone who was convinced by FTX’s bid to make itself look legitimate and mainstream. And there are many parties involved who were entirely blameless-the spouses and families of people who invested in FTX whose livelihoods were wiped out.
This documentary is a masterpiece. Thanks a lot for all the effort you put into it ❤
People say we're not living in a simulation yet this dude was in the cypto space with the words Bank and Fried in his name. Cmon.
Haha😂😂
Lol
Its called an aptronym, like Usain Bolt
My exact thought 😂
Never heard of him before this moment. His name screamed caution. Why! why! why! do people ignore their instincts?
Occupational name, bud.
the legend is back
I see u in everybody’s comment section
I am
Good to see that scam artists like jordan enjoy watching docs about other scam artists
Takes one to know one
@@polymathx_ shhh they don't know
Dude you deserve some awards for documenting & story telling
Christ usually i just put these type of video on the background and go to do something else. But you have a real talent to retain my attention. Amazing work
I am not a finance person, but how is it that so many supposedly brilliant and experienced finance people did not do basic due diligence sufficient to notice the company HAD NO ACCOUNTANT? Come on!
Not having an accountant wasn't an oversight. Clearly.
Mind blowing!
Because it was the fraud from the start, just another way to fleece gullible cattle (i.e. Goyim) .
Maybe because wall street backs most media and so ofc wants to be painted as geniuses they certainly aren't in reality
Do you know any legal people though? What happened to SBF? I mean there were charges and then it all went silent.. on the back of all the apparent corruption of private entities and politicians in the US I think we will never hear anything.. another Ghislaine Maxwell, evil person engaging in evil activities with.. nobody.. its over.. go away now.
I swear to God if this guy gets off because his lawyers could convince the jury that "he's a nice guy and he didn't mean for any of this to happen" I don't see him surviving that long. Somebody is gonna hunt this guy down. I've heard of people that lost so much because of this guy, I just can't imagine him going back to a normal life.
The good news is that he wasn’t even offered a plea deal for a lighter sentence, which suggests the prosecutors are VERY confident in their case. EDIT: Trial's over. Jury only took 4 hours to find him guilty on all 7 charges. Lmao
@@sirel33 I wouldn't go so far as to say "very" confident. They may be but there are more factors behind whether or not a plea deal is offered than simply trying to guarantee some sort of conviction.
With such a high profile case it could be that they want to make an example of him to put some fear in to those in the crypto world or the prosecutor simply wants to make a name for himself. This is also all under the assumption that his lawyer wasn't making it obvious he would never accept a plea or otherwise antagonizing the prosecution before such a thing would even be on the table.
Disclaimer: I haven't been following this story in a long time so if something I said was covered in some way somewhere I wasn't aware.
Bruh will finally get that haircut and be unrecognizable
@@salehdidit haha that's why he never got a haircut !!
It's easy to disappear when your mommy and daddy is rich
This was by FAR the best documentary video i have ever seen on youtube. I had to do a ot of research about the stock market because of a project about the market crash 1929 and 2008, so i have a slight idea of the bubbles that can form in this industry. Having read so many articles and opinions, this whole thing was somehow different but still the same. Astonishing what kind of catastrophe can be caused by panic and misinformation.
First time I actually sat through the full advertisement at the beginning,…. Excellent program, and I’m not even a SM guru/influencer 👊🏼
The head of Binance just stepped down and will plead guilty to federal charges of money laundering. The company will also pay a $4.3 billion fine. You called it.
Not the same thing, Sam ran with billions of customer funds. Here the government is forcing CZ to pay billions of customer funds to them
@@radicaIarchitect Well, SBF was stealing Customer Funds. The government ordered Binance to pay a large fine for breaking the law. If they pay it with Customer Funds, they’re stealing customer funds to. 😂
@@mattmurdock5424 I don't know if they are using customer funds to pay the government. What I'm saying is ftx clearly offended the customers which is wrong. I don't think offending the government is bad or at least anything comparable to stealing from customers, I still think you shouldn't leave most your money or assets with a bank or exchange ❤️
Warren Buffett once said "Be fearful when everyone around you is greedy". Not a lot of people learned and internalised his statement during the crypto boom. To a guy like me who gets bored easily, Every single video made by James is like a black hole of a documentary. It sucks you in and it makes you dig more and more in your own time about the subject. Seriously engaging work that deserves more recognition. Bravo James. Bravo!
Warren even said crypto will not last “meaning “ it’s a scam and he was right !!
Investing is not so easy my friend. Especially in crypto. I took a loan for 5K. I gambled that on crypto. I swear i lost all my money like six times. I was fked. I kept trying kept investing and slowly but surely i made my way up to 500K. 500K!! in like 4 years. Boy it feels like 40 years. It is so stressful. My 500K then turned to 20K. Isn't that crazy? Then i turned that into 33K and now i'm at like 48,4K. I dont care what people say about crypto it changed my life. I'm happy we have bitcoin and ethereum and bnb and all other crypto currencies. They change people's lives. I gave the person i borrrowed the 5K from 16K as a thank you gesture. I could have never done that without this space.
@@adambreezy251 good for you! Happy someone did!
your 500k turned to 20k but you started with 5k,this is the issue with Crypto,many others would start from 100k.... this is gambling and should be taxed as such.@@adambreezy251
@@adambreezy251 should have spread the 500k in low risk unit trusts accounts and start-up businesses. By pacing yourself and remaining humble you'd really be set for life. You live and you learn. Just do better next time and don't invest too much money in such a short time in very risky investments. Peace.
Very well done. Thanks for producing this.
As A First Time Viewer & Being Someone With A Strong Love For Well Put Together Documentary’s .. This Right Here Is Top Notch !! This Is Beyond UA-cam Quality. Definition Of Journalism, Plus One Subscriber 🤝🏾
Oh God, as another video creator, I cannot even imagine how much work went into this! Awesome job on storytelling / editing. What I love is that James is just casually sitting as if he was chatting with us.
Well looks like AI did most of the work 😂
@mayermiklos I concur
I concur
Every single economic downturn I know of outside of 2020 have one thing in common, speculators. It's always a speculative bubble, and the damage is determined by how big the bubble got and what markets it existed in. It literally always ends badly.
She's on telegrams
mary3437
The username
bro, I watched this documentary like 3 times already and its deep. I lived the FTX collapse in real time. What an era! If you dont feel goosebumps watching this youre not really in crypto. Perfect job James. I wish everyone affected with this crash is having a great day and can recover from it.
Sam = samael (aka the devil)
Bankman
Fried (burning your money)
James is the only youtuber that has mastered quality over quanity
The whole thing about playing League of Legends during meetings makes me think: there is this widespread stupid belief that millionaires not only are “geniuses” who work 24/7, but that they have some sort of superhuman attention span and absurd multitask capabilities. People probably heard about SBF playing during meetings and thought “whoa, he’s so smart that he can play vidya and do business at the same time!”.
As if he were Lex Luthor simultaneously playing 5 games of chess and working at his lab.
Did you just use a chris-chan term? Gotta play the vidya, get me some china!
in reality his mind is autistic like a 5yo!! so he plays videogames like a 5yo because he really os retarded and or autistic
Your ability to break down a huge, complicated subject matter and making it compelling, while setting up story-beats in a way that makes sense contextually is something others should pay attention to.
Great video. The delivery was excellent, the music and soundtrack fitting, info graphics were consistent and well produced, and the clips that were sourced created an excellent context behind the narration. Great work James Jani (and team). I’m really impressed, thanks for putting in the time and effort to make this.
I’m autistic and am obsessed with organizing information that’s useful to me, so I’ve just downloaded Notion and so far, it looks stellar and I’m VERY excited. Thanks man. I’m not your usual viewer but I really appreciate the plug.
I'm autistic too and I've been using notion for years. It's genuinely godsend. I'm glad it's helping you too💗
A masterclass in documentary making. Thank you again, James.
You said it perfect, agreed excellent job!
James coming out with two of the best documentaries of 2023. 👏
e came out the closet?
Not too hard if you spend 8 months making one video.
The crypto one was alright but he’s wrong about BTC.
@@lovegod8582do it then.
Put it in his butt if you love him so much 😂😂
This is exceptionally narrated... pacing, knowledge, awareness of the viewer's position... really impressive. Thank you thank you thank you for your work.
It is funny that not everyone knows about AMS99T
whats that
Amazon scam
This documentary is gold. Reminds me of why i loved documentaries as a child. Thank you
Why are documentaries not as good anymore? And a lot of them seems to want you to side with their pov instead of allowing the audience to come up with their own conclusion. 👀
For an update, SBF’s bail has been revoked and he is now in jail awaiting trial. According to his lawyers, SBF is living off of bread and water because the jail will not abide by his vegan diet. Couldn’t have happened to a more deserving guy.
It's unfortunate this did not cover how Caroline and the others got immunity, while SBF walked out on a fake 250 million bail and how he was not charged with campaign finance fraud. It seems there are very few people that have the balls to show how corrupt the US Government actually is.
Lol they can give him vegetables lol they are doing him dirty 😂😂😂
@@JoshuaKimbrough SBF, The Fat Veeegan.
According to his lawyers. Ha
Because he tried to intimidate witnesses and violated his terms for house arrest. Dude is a straight fraud.
The part you covered at the end regarding the everymen who lost their life savings or years, nay, *decades* of work is what I think needs more coverage by the media. Even though you could see red flags with crypto and whatnot from miles away, FTX really pushed that narrative of "trust us", only to be the least trustworthy of all. I feel like this is one big learning lesson that if a company shows up out of nowhere and ends up everywhere, we need to be highly scrutizing towards their legitimacy.
Crypto is about not trusting people.The mantra "don't trust, verify" is a cornerstone to cryptocurrency. FTX is a cautionary tale of trusting centralized actors, not against crypto.
They deserve to lose their money. Majority of those crypto investors are lunatics, lazy, and anti-bank cult that ironically invest in banks such as FTX.
I hate these segments and feel like waste of time, if you are dumb enough to invest all your money in single thing (no matter how safe, let alone crypto) there is no solvation for you.
*D I V E R S I V F Y*
The whole point of crypto is to not use organizations like FTX. FTX is not crypto, it's an organization that tried to sell you crypto.
@@Pikayumyums "Crypto is about not trusting people." Yep. That's why i don't trust example that BTC or any crypto in that extend is worth a dime. It's fucking scam all of it. People are just too fucking stupid to see it before its too late.
Instant subscription. Your clarity, conciseness and grounded demeanor had me sold.
Writing on the tendency of the rate of profit to fall (TRPF) myself and I would love to hear your thoughts on that, and how it relates to the next crash and the current inflation.
This is amazing!!! Dude your details of thia story is so good, love your videos .
I think true altruism exists far less than we'd like to believe :/ beautiful video James!
Faaaaar less
I find my Christian friends are far more altruistic than the others.
It does not VIRTUE signal, True Altruism, the way that SBF does. They may TOUGH choices, take incoming, and make real sacrifices. I have seen Musk do that. SBF never did
It exists but it’s always quiet. It’s the little things & never a display & never ever by Billionaires
Don't let this make you believe that. It exists on a huge scale. Just not with billionaires, and capitalism doesn't reward it.
I'm regretting paying money for Netflix to watch documentaries while people like you make a wonderful videos. keep it up please.
You know, you can cancel your Netflix subscription.
i cancelled netflix after their weird amber heard apologetics video
Mate I subbed to Netflix like twice when big shows was on like don't f with the cats and the lion king, ultimately I thought Netflix was shit.
I just watch UA-cam, podcasts and free channels on my TV. I don't understand why people pay monthly for shit shows when the best, indapendantly, forward thinking and creative videos are on UA-cam for FREE. Gotta love UA-cam ❤
This was the 1st video on SBf's collapse that I watched. Then I went on to watch documentaries from PBS, Bloomberg, and CNBC and I wanted to come back and say that I enjoyed your's the best and even watched it one more time just to make sure. When I first watched this video I was unsure about how I felt about all the jumping around to different time periods, bur like I said after watching all other's version of their documentaries I came to the conclusion that the way you laid it out was the best. So I wanted to come back here and give you props because these billion dollar companies couldn't come close to what you did! Bloomberg even used ai in their video to explain the definition of certain terms and it was terrible. Now I'm sure ai will become better over time but the way they did it was utterly trash.
don't ever stop making these deep researched documentaries bro! thank you
SBF’s story shows how ‘legitimate’ media houses lend legitimacy to grifters… if anyone had asked the right questions earlier, so much could have been avoided.
Cool the antisemitism
@@longiusaescius2537what are you on about?
@@HydraInk "he doesn't know"
@@longiusaescius2537answer the question, you're being difficult for no reason
@@HydraInk "I heart SBF"
Whenever James uploads, you know it's going to be quality ❤
oh my it's AnimeBallsDeep in the wild! Can I get a shoutout? jk....unless
@@mash6205bro 💀
Yooooooo satoru freaking gojo
totally agree with you.
@@halalboy7592 and JIIIIIGEENNNN
UPDATE: On March 28, 2024, he was sentenced to 25 years in prison and ordered to forfeit $11 billion.
Really impressive work! Very thorough, excellent production. Thank you
38:40 manufacturing authenticity. The bean bags, the Toyota, the messy hair. It’s all the logical fallacy that we crave “real” so much we often fall for the fake. Since SBF postured like someone that didn’t care about money, he appeared more “down-to-earth” and genuine. All while being completely contrived.
It’s basically “stealth wealth” in action
As someone who followed this entire storyline in real time, you did such a great job summarizing everything. No stone left unturned.
I feel there is more to be explored with the political ties and how it afforded him so much credibility in the beginning and now lenience. I can’t help but expect his punishment would be far worse had he not ‘donated’ millions to a political party.
Yea you can make another vid alone to dive deeper into the conspiracy. For example, Gary Gensler was extremely favorable to SBF but hated CZ. SBF was Caroline's boyfriend and Caroline's dad was Gary's colleague back when they went to MIT. And Sam's parents were professors at Stanton who had their own connections. Sam was extremely well connected and knew all the right people from the top private schools. There's also evidence that he helped the DNC launder money for the war in Ukraine. @JWPshenigans
“As someone who is fully cap” is how you should’ve started off your sentence , because those of us who knows he was apart of the Biden cabinet funneling crypto money to Ukraine , hmmmmmmm, FRAUDULENTLY under “alphabet protection”
It also helps to be politically connected. Any mention of Sams multimillion dollar donations to the DNC and the business with Zelenski? Not in the mainstream media.
Sucha good video!!
Amazing quality - amazing editing - amazing content.
Thanks Mate
The investors that looked at him sleeping and playing video games and still wanted to give him money and ask zero questions??? No sympathy over the money they lost for their decision
Bro. Do you know how many VCs have turned us down due to ammunition being a "liability" ... But they give this testosterone free beta male billions?
I think it's time we retake our country.
Coming from an old lady, "when it's too good to be true, it probably is." Very sad for the investors. Great video, held my attention.
1-hour plus documentary, huh? Bring it on, James
stewish people :/
The best youtube video i've seen in months!
@JamesJani , I hope I'm not too late to comment and you're reading this. Brilliant work! Just wanted to ask, where do you get stock videos like this? News clips and everything. Thanks in advance!
It's always painful to see people believe that being rich must mean you're smart.
Exactly. If it were not for all the sports agents and talent agents. Half of Hollywood and pro sports i visuals would never be where they are.
There is a line in " If i were a Rich Man" a song from Fiddler on the roof that comes to mind. "And it won't make one bit of difference if I answer right or wrong
/When you're rich, they think you really know!"
Being referred to as “The JP Morgan of _______” should not be considered a compliment.
Cunning.
Seriously. The older I get the more it seems these rich people have acquired their wealth illegally or off of other peoples misfortunes.
this deserves to be on Netflix. You are Steven Spielberg of UA-cam.
Your editing part is outstanding.
bro, we need a new video
It goes to show that some of the most educated and successful people in the world got duped by a real geek, that I wouldn't have believed for a minute. These folks throw money at anything and don't even really check it out. They get inspired for one second and put a monster like this up front.
It's funny investments can go from:
"you should not be afraid to risk and invest as life itself is a risk by itself"
to:
"you should not mindlessly throw your money to something that looks dump"
really fast! It really makes you wonder if most people are truly so "smart" as they seem to be.
Ass
All of this could have been avoided.
If only the western world had the balls to NAME THE NOSE.
Myself and my inner circle weren’t duped. We aren’t educated either. We just know Crypto is BS, and the ones pushing it were lying.
I learned the “auction market theory” and it saved my butt many times.
*something is ONLY worth what someone is willing to pay for it.*
@@st.michaelofcigarillo2845 Name it
This is hands down one of the clearest, most well-researched, well-edited and captivating video essays i have seen on such a complex topic. I am currently on a video essay rabbit hole and I think yours is the best I've seen yet. Well done! Looking forward to more videos like this in the future ^^
Yeah he’s amazing
Too bad that the same level of journalistic expertise was not used to investigate SBF several years ago.
I suggest you watch his "Crypto: The World’s Greatest Scam." video. Research and story telling at its best!
In the case you want something else to watch, I recommend BobbyBroccoli’s 3-part series on Hendrik Schön. As well as his video on Viktor Ninov, a man who faked multiple discoveries of new elements. Happy viewing!
@@OllieRy321 i absolutely love his Victor Ninov, it's the only reason I know anything about half-lifes and alpha decay chains despite hating chemistry lol. i didn't know he had a series on Schon tho, will check it out!
Thanks for the video man. Enjoyed the style, very well done
-edit- realized you said in the video that it wasn't just you working on the project, only after hitting submit. Thank you to EVERYONE who worked on this video. Greatly appreciated.
After watching this documentary, this gave me lessons. Being a CEO of a multi-billion dollars company is one of the most stressful things that you can ever face in life, and save your company in a safest way as possible
It's not stressful if your company doesn't try to scam people and its investors. The top 10 richest billionaires in the world doesn't have this worry. Example Larry Ellison and Bill Gates provide quality products in the IT world: Oracle and Windows for one. And these people have been billionaires for years with enough experience to navigate through their wealth and consumers.
This for me goes to show the fraud that is celebrities endorsement. Means sh*t, and yet people still associate famous people with trust.
I'm genuinely confused by this, I mean they're doing it for a paycheck why do people equate that with being trustworthy? It clearly works for many I just don't understand why
@@mamacito1795 You're simply overestimating the average joe's intellect. Most people are NPC, going through life with no intention, running after the next dopamine hit. The average human is easily manipulated.
And brains. It’s incredible. To so many, money=smart or military = smart even though military is often peoples only option for a lot of different reasons.
What surprised me the most is that despite having Billions of Dollars at his disposal he decided to hire kids to run his companies. Instead of experienced C-Suite. All of his team had zero knowledge how to run a financial empire.
If he hired an experience and seasoned team, then he wouldn't be able to run his grift without 'preying' eyes. It was purposeful.
@@PrincessSharifa434 If you want to do dirty business, you hire people from Wall Street - that's what they do. Especially from Goldman Sachs :)
Can't run a scam with those people.. Well you can if they are equally greedy but it's harder
He's just an actor, this was a massive operation to scam the public....same old group running amoc.
@@PrincessSharifa434thank you
Wow! This was an amazing video! Your story telling ability is remarkable!!!