Episode Synopsis
Cryptocurrencies have shot to stardom in the last decade, popularised by the Bitcoin Boom in 2017. But nearly as soon as it went to the moon, it came crashing back down to Earth. These sharp rises and falls have become synonymous with Cryptocurrencies, sparking many to question their place in the investment world. Still, a lot of people are very wealthy simply because they bought when every institution was telling them not to. So are they a sound investment? What should you look out for? Or is it all a big scam, for which many are going to be found out eventually?
A Teaser of What We Discovered in this Video…
“I went to MIT where I had learned a lot about myself, including that I didn’t want to do physics. I could fill up enormous numbers of hours playing League of Legends if I tried.”
– Sam Bankman-Fried CEO of FTX
Watch the Main Interview Video
About Sam Bankman-Fried:
Sam Bankman-Fried has been dubbed ‘the $10 Billion man’ when he gained in just three years trading a host of Cryptocurrencies. He’s a physics graduate from MIT, but with a hunger to accrue enough wealth to make a difference in the world, he took a job trading ETF’s at Jane Street Capital, eventually leaving to establish the investment firm Alameda Research and the Crypto trading platform FTX. He’s a proponent of the Effective Altruism movement with the goal of donating to the world’s most effective charities.
Connect with Sam:
Show Notes:
06:40 – Who is Sam Bankman-Fried, and how did he come to be worth $10 Billion in Crypto?
11:40 – The difference between trading Cryptocurrency and trading stocks and shares
16:50 – The story behind the FTX trading platform. A college roommate start-up trading more than $14 Million every day.
18:39 – The limitations that regulation have on trading cryptos in the US.
19:38 – XRP, the SEC case against Ripple, and is it going to the moon?
23:01 – Bitcoin Arbitrage: How selling the same product in different markets made Sam MILLIONS
27:29 – Decentralised Finance (DeFi)
32:30 – Scaling up a business that’s making a lot of money
34:48 – When times get tough in the business
36:40 – Cultural Cancer in a business
38:15 – Sam’s hiring process
44:53 – Where do cryptos actually get their value?
48:31 – What needs to happen in crypto to make it in the mainstream finance world?
64:00 – What cryptocurrency should everyone be looking out for?
67:00 – Let’s talk Dogecoin
74:00 – Hedge funds vs Cryptos
84:33 – Solana
Further Resources
- FTX Crypto Exchange – Built by Traders, for Traders.
- WATCH: A Beginners Guide to FTX Echange Tutorial
- Sam Bankman-Fried’s Forbes Profile
- CNN’s Beginners Guide to Cryptocurrency
- Bloomberg’s Beginners Guide to Investing in Bitcoin
- Ten things you didn’t know about Sam Bankman-Fried
- What is Bitcoin Arbitrage? – Sofi.com
- Bitcoin Arbitrage – Price rises higher in Indian than America and Japan
- Bitcoin Price History
- The History of Bitcoin
- What is Dogecoin and How Does it Work?
- Investopedia’s list of Best Crypto Exchanges
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