Sam Bankman-Fried, CEO and founder of FTX, describes what happened between the Subreddit Wall Street Bets and hedge funds around the stock of GameStop this week. In this episode, he covers: <ul> <li style="font-weight: 400;" aria-level="1">what happened with the stock of video game retailer GameStop this week</li> <li style="font-weight: 400;" aria-level="1">what that says about how to value a stock</li> <li style="font-weight: 400;" aria-level="1">how the traditional financial establishment reacted</li> <li style="font-weight: 400;" aria-level="1">how the events in GameStop this week are similar to the way crypto markets operate</li> <li style="font-weight: 400;" aria-level="1">how a crypto financial system could affect the ability of investors to do what the hedge funds did with GameStop — shorting more shares of the stock than actually exist</li> <li style="font-weight: 400;" aria-level="1">what led to FTX listing for tokenized versions of GameStop, Blackberry, AMC and Nokia, as well as a tokenized index fund of Wall Street Bets stocks</li> <li style="font-weight: 400;" aria-level="1">how the tokenized stocks and index work on the back end</li> <li style="font-weight: 400;" aria-level="1">why Robinhood restricted customers from purchasing shares in GameStop on Thursday</li> <li style="font-weight: 400;" aria-level="1">what the inspiration was for FTX</li> </ul>   Thank you to our sponsors! <a href="http://crypto.com/">Crypto.com</a>: <a href= "http://crypto.com/">http://crypto.com</a> The Sun Exchange: <a href="http://sunexchange.com/">http://sunexchange.com</a>   Episode links: Sam Bankman-Fried: <a href="https://twitter.com/SBF_Alameda">https://twitter.com/SBF_Alameda</a> FTX: <a href= "https://ftx.com/">https://ftx.com</a>   Roundups of what happened with Gamestop:  NYT: <a href= "https://www.nytimes.com/2021/01/27/business/gamestop-wall-street-bets.html"> https://www.nytimes.com/2021/01/27/business/gamestop-wall-street-bets.html</a> Vox: <a href= "https://www.vox.com/the-goods/22249458/gamestop-stock-wallstreetbets-reddit-citron"> https://www.vox.com/the-goods/22249458/gamestop-stock-wallstreetbets-reddit-citron</a> Early Wired story: <a href= "https://www.wired.com/story/gamestop-stock-wall-street-bets-short-squeeze/"> https://www.wired.com/story/gamestop-stock-wall-street-bets-short-squeeze/</a> NYT analysis: <a href= "https://www.nytimes.com/2021/01/28/technology/gamestop-stock.html"> https://www.nytimes.com/2021/01/28/technology/gamestop-stock.html</a>   Sam on what can determine an asset’s price: <a href= "https://twitter.com/SBF_Alameda/status/1354790766313234432?s=20"> https://twitter.com/SBF_Alameda/status/1354790766313234432?s=20</a>   Chamath Palihapitiya on CNBC discussing Gamestop — defending individual investors: <a href= "https://www.cnbc.com/2021/01/27/chamath-palihapitiya-closes-gamestop-position-but-defends-individual-investors-right-to.html"> https://www.cnbc.com/2021/01/27/chamath-palihapitiya-closes-gamestop-position-but-defends-individual-investors-right-to.html</a> Videos: <a href= "https://www.cnbc.com/video/2021/01/27/investor-chamath-palihapitiya-the-gamestop-story-is-pushback-against-wall-street-establishment.html"> https://www.cnbc.com/video/2021/01/27/investor-chamath-palihapitiya-the-gamestop-story-is-pushback-against-wall-street-establishment.html</a> <a href= "https://www.cnbc.com/video/2021/01/27/billionaire-investor-chamath-palihapitiya-on-gamestop-surge-and-rise-of-retail-investors.html"> https://www.cnbc.com/video/2021/01/27/billionaire-investor-chamath-palihapitiya-on-gamestop-surge-and-rise-of-retail-investors.html</a>   Gamestop price gyrations: <a href= "https://www.cnbc.com/2021/01/28/gamestop-reverses-losses-and-surges-another-30percent-in-the-premarket-to-450-as-mania-continues.html"> https://www.cnbc.com/2021/01/28/gamestop-reverses-losses-and-surges-another-30percent-in-the-premarket-to-450-as-mania-continues.html</a>    How many shares of GME are shorted: <a href= "https://isthesqueezesquoze.com/">https://isthesqueezesquoze.com</a>   FTX lists GME for tokenized spot and futures trading: <a href= "https://www.theblockcrypto.com/linked/92756/ftx-lists-gme-stock-for-tokenized-spot-futures-trading"> https://www.theblockcrypto.com/linked/92756/ftx-lists-gme-stock-for-tokenized-spot-futures-trading</a>   FTX’s Wall Street Bets tokenized index fund: <a href= "https://twitter.com/SBF_Alameda/status/1354790817060143114?s=20"> https://twitter.com/SBF_Alameda/status/1354790817060143114?s=20</a>   Robinhood customers only being able to sell, not buy GME when Robinhood’s revenue biggest revenue source is sending order flow to hedge funds: <a href= "https://www.cnbc.com/2021/01/28/robinhood-interactive-brokers-restrict-trading-in-gamestop-s.html"> https://www.cnbc.com/2021/01/28/robinhood-interactive-brokers-restrict-trading-in-gamestop-s.html</a>   Matt Levine of Bloomberg on GameStop: <a href= "https://www.bloomberg.com/opinion/articles/2021-01-28/knowing-when-to-sell-gamestop-stock-at-the-top-is-impossible?sref=m9L277rN"> https://www.bloomberg.com/opinion/articles/2021-01-28/knowing-when-to-sell-gamestop-stock-at-the-top-is-impossible?sref=m9L277rN</a>   Link to the Crypto News Recap: <a href= "https://unchainedpodcast.com/how-gamestop-is-like-crypto/"> https://unchainedpodcast.com/how-gamestop-is-like-crypto/</a>

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Why the GameStop Insanity Is So Similar to Crypto - Ep.162

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