Wait….What?!: The FTX Lowdown with Madi Lieber
December 6, 2022
The last couple weeks have been an absolute roller coaster in the world of Web3. There has been some major drama with the collapse of FTX—but fear not, because one of our favorite guests is here to explain everything.
Today, we’re welcoming back Web3 expert Madi Lieber. Madi has a background in big tech—including time at Google and Facebook—and is Chief Operating Officer of Crypto Chicks, an NFT project representing the bold, trendy women of Web3.
Listen in to episode seven of Web3 with MCG. Madi is giving us an overview of the entire FTX debacle, explaining how a domino effect caused much of what we’re seeing now, and telling us what happens when $6 billion in withdrawals happens in 72 hours.
In this episode, you’ll learn:
- The “wait… what?!” of the FTX situation (01:16)
- The crazy backstory on FTX and its CEO (04:04)
- FTX CEO Sam Bankman-Fried was initially seen as a stabilizing force (08:13)
- The nitty gritty on what caused the collapse (12:05)
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