The Man Who Was Supposed to Save Crypto

<p>Earlier this year, much of the crypto industry imploded, taking with it billions of dollars. From that crash, one company and its charismatic founder emerged as the industry’s savior.</p><p>Last week, that company collapsed.</p><p>Who is Sam Bankman-Fried, how did he become the face of crypto, and why did so many believe in him?</p><p>Guest: <a href="https://www.nytimes.com/by/david-yaffe-bellany?smid=pc-thedaily">David Yaffe-Bellany</a>, a reporter covering cryptocurrencies and fintech for The New York Times.</p><p>Background reading: </p><ul><li>Here’s what to know about the <a href="https://www.nytimes.com/2022/11/10/technology/ftx-binance-crypto-explained.html?smid=pc-thedaily">collapse of FTX</a>.</li><li>In an interview with The Times, Mr. Bankman-Fried <a href="https://www.nytimes.com/2022/11/14/technology/ftx-sam-bankman-fried-crypto-bankruptcy.html?smid=pc-thedaily">said he had expanded too fast and failed to see warning signs</a>. But he shared few details about his handling of FTX customers’ funds.</li></ul><p>For more information on today’s episode, visit <a href="http://nytimes.com/thedaily?smid=pc-thedaily">nytimes.com/thedaily</a>. Transcripts of each episode will be made available by the next workday. </p>