RUIN: Money, Ego and Deception at FTX

RUIN is a feature documentary about Sam Bankman-Fried and the stunning collapse of his cryptocurrency exchange, FTX, as narrated by Bloomberg journalists and some of the central players in the rise of digital assets.

On Nov. 2, 2023, Sam Bankman-Fried was found guilty in Manhattan federal court of seven counts of fraud and conspiracy.

On March 28, 2024, Bankman-Fried was sentenced to 25 years in prison. He plans to appeal.

#crypto #crime #ftx

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[blakksheep]

Before anyone gives Bloomberg too much credit, remember that they were told about FTX's insolvency months before the collapse, and elected not to report on it, because it might hurt their ad rev.

[DeckerClips]

I love how Bloomberg reporters don’t mention they turned down the story in June 2022 because it would “limit access” and alienate their advertisers— they’re covering for their own complicity and conflict of interest.

[Thebrianweissman]

Sam Bankman Fried can't even form a coherent sentence in an interview. The idea he could speak coherently while most of his smooth brain was focusing on League of Legends is extremely absurd.

[rudolfvanderven]

Motion designer: so how much AI-generated B-roll would you like?
Bloomberg: yes.

[renpilak]

“Borrowing” from customer funds without their consent is called stealing whether they intended to pay it back or not.

[shaneoneill]

"the downfall of Scam Bankman" brought to you by the people who idolised him and convinced millions he was a genius. This is so immoral it's crazy.

[shelbyknauss]

only 18 minutes into this and I've already lost count of the number of times I've hit the 10 second skip button to get past the long stretches of ominous music and warped clips of buildings and neighborhoods, to get to actual dialogue

[Electroporcupine]

This would be a lot better without all the awful AI imagery

[Livalain]

I love how they put people like Kevin O'leary in this piece. As if he's one of the "victims" while having made 4.3 million on the exchange, also paid 15 million to be "an official spokesperson for FTX" by SBF

[sarahmalan]

O'leary should NOT have been given such a prominent role at the end of this doc. He is NOT objective and had only invested $850K while he was compensated $14M as an FTX spokesperson. He is NOT honest!

[RubyRedDances]

Didn't Bloomberg turn down the option to write about this back before this whole scandal became more widely known, when they were presented with evidence?

[LouisEguchiWale]

Why do they keep saying he was so smart? He wasn’t at all he is just manipulative

[minhoonoon]

Matt Miller says he feels sorry for SBF. I feel sorry for the millions of victims who lost their life savings.

[ultratruman]

Could've done with 50% less AI hallucinations and 100% less Kevin O'Leary

[Alegend]

Basically, every person interviewed on this should be ashamed of themselves.

[falldog]

He’s like a narcissist, still talks as if he has a providential role to play in the world. These are kids with unbelievably inflated egos, who can’t string together a sentence without saying the word “like” three times.

[steviecrow]

O’Leary focusing on Binance’s chess move and not the fraud tells you everything.

[ifeanyinwowu]

this is another documentary trying to paint SBF fairly, they didn't borrow customers assets, they stole customers assets, and CZ wasn't in anyway the cause of their downfall

[valeriedahl]

An interesting story but there isn't a single word about how deep his parents were into the money. They both have the age, experience and backgrounds to know that there was something very wrong going on with the multiple companies and the book keeping. The tip off to me was their comment "We don't know how the place in the Bahamas ended up in our names." I would have liked a little more balance to the story that included a bit of the family affair that there appears to have existed.

[AttilaKovacs_]

Kevin O'Leary doesn't deserve to have his voice heard by masses of people after what he has done and said. Period.