FTX was touted as THE cryptocurrency trading platform with its founder, visionary Sam Bankman-Fried, promising to revolutionize the industry. This once-promising Company was on a path to decentralize and democratize a highly complex investment within the crypto world but by 2022, headlines that read, “Scam of the Century”, “Bank Fraud and Conspiracy”, and “Criminal Charges” pointed to a grim future. What happened and who was to blame? Listen to Episode 56 of The Great Fail to hear the full story. Special thanks to Adweek and Acast and Jason Notte from Adweek for contributing to this episode.&nbsp;&nbsp;FTX Sources&nbsp;<a href="https://www.latimes.com/entertainment-arts/business/story/2023-01-18/has-hollywood-learned-its-lesson-from-the-ftx-debacle" rel="noopener noreferrer" target="_blank">Have celebs learned their lesson from the FTX debacle?</a>&nbsp;<a href="https://www.npr.org/2022/11/19/1138018369/the-rise-and-fall-of-ftx" rel="noopener noreferrer" target="_blank">The rise and fall of FTX</a>&nbsp;<a href="https://www.investopedia.com/what-went-wrong-with-ftx-6828447#:~:text=FTX%20filed%20for%20bankruptcy%20on,reserve%20to%20meet%20customer%20demand." rel="noopener noreferrer" target="_blank">The Collapse of FTX: What Went Wrong with the Crypto Exchange?</a>&nbsp;<a href="https://www.forbes.com/sites/ariredbord/2023/02/01/tom-brady-and-other-a-listers-fumble-ftx-endorsements-but-will-they-be-held-liable/?sh=123cb0877d8c" rel="noopener noreferrer" target="_blank">Tom Brady And Other A-Listers Sued For Fumbling FTX Endorsements</a>&nbsp;<a href="https://www.hollywoodreporter.com/business/business-news/ftx-investors-sue-celebrity-endorsers-1235263511/" rel="noopener noreferrer" target="_blank">FTX Investors Sue Celebrity Endorsers</a>&nbsp;<a href="https://www.nytimes.com/2022/12/17/opinion/crypto-ftx-crash-celebrity.html" rel="noopener noreferrer" target="_blank">Celebrity Crypto-Hawkers Should Get a Close Look</a>&nbsp;<a href="https://www.aljazeera.com/economy/2022/12/13/timeline-the-rise-and-spectacular-fall-of-ftx" rel="noopener noreferrer" target="_blank">Timeline: The rise and spectacular fall of FTX</a>&nbsp;<a href="https://nymag.com/intelligencer/article/sam-bankman-fried-ftx-bankruptcy-what-happened.html" rel="noopener noreferrer" target="_blank">SBF: THE VIRTUE WAS THE CON</a>&nbsp;<a href="https://www.nytimes.com/2022/11/10/technology/ftx-binance-crypto-explained.html" rel="noopener noreferrer" target="_blank">Why Did FTX Collapse? Here’s What to Know. </a>&nbsp;<a href="https://www.forbes.com/sites/jackkelly/2022/12/13/will-sports-stars-and-celebrities-continue-to-endorse-or-accept-pay-in-crypto-after-being-entangled-in-the-ftx-scandal/?sh=2a97eaaa1b1a" rel="noopener noreferrer" target="_blank">Should Sports Stars And Celebrities Endorse Or Accept Crypto Pay After Entanglement In FTX Scandal?</a>&nbsp;<a href="https://fortune.com/2022/12/17/sports-stars-promoting-ftx-crypto-firms-sponsorships-fans-ethics/" rel="noopener noreferrer" target="_blank">Sports stars lending legitimacy to crypto firms raises ethical questions when many fans can’t afford to lose</a>&nbsp;<a href="https://www.cnet.com/personal-finance/crypto/the-fall-of-ftx-and-sam-bankman-fried-a-full-timeline-of-events/" rel="noopener noreferrer" target="_blank">The Fall of FTX and Sam Bankman-Fried: A Timeline</a>&nbsp;&nbsp;Special Guest: Jason Notte, Staff Writer at Adweek&nbsp;Jason is an Adweek staff writer covering the business of marketing. Jason has previously covered marketing, technology and personal finance and for TheStreet, MarketWatch and MSN Money.&nbsp;<hr> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.

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