{"id":25798,"date":"2023-07-30T19:36:41","date_gmt":"2023-07-30T19:36:41","guid":{"rendered":"https:\/\/davidgerard.co.uk\/blockchain\/?p=25798"},"modified":"2023-07-30T23:34:21","modified_gmt":"2023-07-30T23:34:21","slug":"john-jay-ray-sues-ftx-inner-circle-for-1-billion-prosecutors-want-sam-bankman-frieds-bail-revoked","status":"publish","type":"post","link":"https:\/\/davidgerard.co.uk\/blockchain\/2023\/07\/30\/john-jay-ray-sues-ftx-inner-circle-for-1-billion-prosecutors-want-sam-bankman-frieds-bail-revoked\/","title":{"rendered":"John Jay Ray sues FTX inner circle for $1 billion, prosecutors want Sam Bankman-Fried\u2019s bail revoked"},"content":{"rendered":"<p><i>By <b>Amy Castor<\/b> and <b>David Gerard<\/b><\/i><\/p>\n<ul>\n<li aria-level=\"1\">We need your support to keep these posts coming. <i><b>Send us money!<\/b><\/i> Here\u2019s<a href=\"https:\/\/www.patreon.com\/amycastor\"> Amy\u2019s<\/a> Patreon, and here\u2019s <a href=\"https:\/\/www.patreon.com\/davidgerard\/\">David\u2019s<\/a>. Sign up today!<\/li>\n<li aria-level=\"1\">Our patrons can also get a couple of <a href=\"https:\/\/davidgerard.co.uk\/blockchain\/wp-content\/uploads\/2021\/05\/bitcoin-it-cant-be-that-stupid.png\">\u201cBitcoin: It Can\u2019t Be That Stupid<\/a>\u201d stickers just by messaging one of us and asking.<\/li>\n<li aria-level=\"1\">David has<a href=\"https:\/\/davidgerard.co.uk\/blockchain\/2020\/11\/26\/get-signed-copies-of-libra-shrugged-and-attack-of-the-50-foot-blockchain\/\"> signed author copies of his books<\/a> for sale.<\/li>\n<li aria-level=\"1\">Sign up on<a href=\"https:\/\/amycastor.com\/\"> Amy\u2019s blog<\/a> to see every new post she makes as it goes up, and<a href=\"https:\/\/davidgerard.co.uk\/blockchain\/#byemail\"> click here and enter your email address<\/a> for every new post on David\u2019s blog as it goes up.<\/li>\n<\/ul>\n<p>John Jay Ray III, the CEO of FTX in bankruptcy, and his team have spent several months sifting through the smoldering wreckage of FTX for whatever paperwork and money trails they can find. Their aim is to get as much back for creditors as possible.<\/p>\n<p>Last month, Ray released the <a href=\"https:\/\/amycastor.com\/2023\/06\/29\/ftx-john-jay-ray-files-second-interim-report-sues-daniel-friedberg\/\">second interim report<\/a> and filed lawsuits against FTX counsel Daniel Friedberg and venture capital firm <a href=\"https:\/\/amycastor.com\/2023\/07\/06\/crypto-collapse-venture-capital-goes-home-coinbase-tether-backing-ftx-sues-hollywood-vcs-3ac-on-the-beach\/\">K5 Capital<\/a>. He has filed a pile more actions to reverse transfers.<\/p>\n<p>&nbsp;<\/p>\n<p><a href=\"https:\/\/davidgerard.co.uk\/blockchain\/2023\/07\/30\/john-jay-ray-sues-ftx-inner-circle-for-1-billion-prosecutors-want-sam-bankman-frieds-bail-revoked\/ftx-inner-circle\/\" rel=\"attachment wp-att-25799\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-25799\" src=\"https:\/\/davidgerard.co.uk\/blockchain\/wp-content\/uploads\/2023\/07\/ftx-inner-circle.jpg\" alt=\"\" width=\"510\" height=\"315\" srcset=\"https:\/\/davidgerard.co.uk\/blockchain\/wp-content\/uploads\/2023\/07\/ftx-inner-circle.jpg 680w, https:\/\/davidgerard.co.uk\/blockchain\/wp-content\/uploads\/2023\/07\/ftx-inner-circle-300x185.jpg 300w, https:\/\/davidgerard.co.uk\/blockchain\/wp-content\/uploads\/2023\/07\/ftx-inner-circle-348x215.jpg 348w\" sizes=\"auto, (max-width: 510px) 100vw, 510px\" \/><\/a><\/p>\n<p style=\"text-align: center;\"><small><i>Caroline Ellison, Sam Bankman-Fried, Nishad Singh, Gary Wang<\/i><\/small><\/p>\n<p>&nbsp;<\/p>\n<h3>Milking the company<\/h3>\n<p>Ray is suing the old FTX inner circle \u2014 Sam Bankman-Fried, Caroline Ellison, Gary Wang, and Nishad Singh \u2014\u00a0to claw back $1 billion in misappropriated funds. The complaint was filed on July 20. [<a href=\"https:\/\/storage.courtlistener.com\/recap\/gov.uscourts.deb.188450\/gov.uscourts.deb.188450.1886.0_2.pdf\"><i>Doc 1186<\/i><\/a><i>, PDF<\/i>]<\/p>\n<p>The normal clawback period for bankruptcies is 90 days, or one year for corporate insiders \u2014 but for fraudulent transfers, the lookback period is up to two years. These avoidance claims stretch all the way back to February 2020 because Ray alleges the transfers were crimes \u2014 the FTX inner circle was treating FTX and Alameda as their personal piggy bank. [<a href=\"https:\/\/www.law.cornell.edu\/uscode\/text\/11\/548\"><i>Section 548, Bankruptcy Code<\/i><\/a>]<\/p>\n<p>Much of the complaint rests on crimes that Ellison, Wang, and Singh have already pleaded guilty to.<\/p>\n<p>Ray is asking for an order finding that these transfers were fraudulent, the return of the transferred money or property, damages, and attorney fees. He is also asking that any bankruptcy claims made by the FTX inner circle are subordinated to the claims of innocent creditors.<\/p>\n<p>The report is 84 pages. The first 18 pages set the scene, recapping stuff you\u2019ll already know if you\u2019ve been following the FTX saga. The fun starts on page 19, detailing the specific malfeasance. Pages 35 to 82 detail the forty-eight specific causes of action in law.<\/p>\n<h3>Political purchases<\/h3>\n<p>The inner circle made over $100 million in political donations. The money was typically funneled from Alameda as \u201cloans\u201d before being donated personally:<\/p>\n<ul>\n<li aria-level=\"1\">Singh donated $500,000 to the People for Progressive Governance PAC \u2014 run by Michael Sadowsky, who also ran SBF\u2019s Protect Our Future PAC.<\/li>\n<li aria-level=\"1\">SBF put $35 million into Guarding Against Pandemics, run by his brother Gabriel. GAP \u201cfrequently funded pet projects of the Bankman-Fried brothers that, needless to say, did nothing to prevent pandemics.\u201d<\/li>\n<\/ul>\n<p>As we now know, FTX insiders donated to both Democrats and Republicans who they thought would put pro-crypto legislation into place. SBF also spent $11 million trying and failing to parachute Carrick Flynn, his fellow Effective Altruist, into a Democratic primary in Oregon. [<a href=\"https:\/\/www.opb.org\/article\/2022\/04\/25\/what-does-a-crypto-tycoon-want-with-oregons-new-congressional-district\/\"><i>OPB<\/i><\/a><i>, 2022; <\/i><a href=\"https:\/\/www.marketwatch.com\/story\/despite-11-million-in-donations-from-a-crypto-billionaire-carrick-flynn-loses-big-in-oregon-primary-11652887087\"><i>MarketWatch<\/i><\/a><i>, 2022<\/i>]<\/p>\n<h3>Effective Altruism and the Island of Dr. Bankman-Moreau<\/h3>\n<p>The FTX Foundation was a front put up by the inner circle to look charitable. Being LessWrong rationalists and <a href=\"https:\/\/davidgerard.co.uk\/blockchain\/2023\/02\/06\/ineffective-altruism-ftx-and-the-future-robot-apocalypse\/\">Effective Altruists<\/a>, their idea of charity was, as Ray put it, \u201cfrequently misguided and sometimes dystopian.\u201d<\/p>\n<p>Ray\u2019s second interim report already mentioned the $300,000 grant to an individual to \u201cWrite a book about how to figure out what humans\u2019 utility function is.\u201d This is a question that is extremely important in <a href=\"https:\/\/davidgerard.co.uk\/blockchain\/2023\/06\/03\/crypto-collapse-get-in-loser-were-pivoting-to-ai\/\">Eliezer Yudkowsky\u2019s LessWrong rationalist philosophy<\/a> of how to avoid the future artificial superintelligence turning us all into paperclips.<\/p>\n<p>Another $400,000 grant went to pay for animated videos on YouTube related to \u201crationalist and EA material,\u201d including videos on \u201cgrabby aliens.\u201d<\/p>\n<p>And then there\u2019s the doomsday bunker. This one\u2019s a doozy:<\/p>\n<blockquote><p>One memo exchanged between Gabriel Bankman-Fried and an officer of the FTX Foundation describes a plan to purchase the sovereign nation of Nauru in order to construct a \u201cbunker \/ shelter\u201d that would be used for \u201csome event where 50%-99.99% of people die [to] ensure that most EAs [effective altruists] survive\u201d and to develop \u201csensible regulation around human genetic enhancement, and build a lab there.\u201d The memo further noted that \u201cprobably there are other things it\u2019s useful to do with a sovereign country, too.\u201d<\/p><\/blockquote>\n<p>The island of Nauru, halfway between Australia and Hawaii, has been completely trashed by superphosphate mining, their pivot to money laundering didn\u2019t work out, and the country is now mostly dependent on Australia. Everything down to the water has to be imported too. So with sufficient money, you probably could buy your way into effectively owning a\u00a0 very small sovereign country.<\/p>\n<p>There is the minor detail that the most significant oncoming deadly \u201cevent\u201d is climate change, with a strong prospect of Nauru sinking beneath the waves in its entirety. Perhaps Gabe was thinking of the rogue superintelligence doing the paperclip thing.<\/p>\n<p>Building a bunker for the Effective Altruist in-group to experiment with eugenics after the apocalypse is clearly the most charitable cause in the world. We can\u2019t tell you how much we want a copy of this memo.<\/p>\n<h3>Safe as houses<\/h3>\n<p>The FTX companies spent $243 million on real estate in the Bahamas:<\/p>\n<blockquote><p>Defendants caused the FTX Group to purchase more than 30 properties, including a $30 million, six bedroom penthouse in the Albany resort community in the Bahamas in January 2022. The property, known as the Orchid Penthouse, was home to Bankman-Fried, Wang, Singh and Ellison prior to the FTX Group\u2019s collapse.<\/p><\/blockquote>\n<p>FTX paid for the condo complex \u2014 but Bankman-Fried, Wang, and Singh had the deeds conveyed to themselves personally and not to the company.<\/p>\n<h3>Buying the company with the company<\/h3>\n<p>The FTX inner circle borrowed from FTX to buy FTX entities for themselves. They wrote promissory notes for hundreds of millions of dollars to the FTX companies \u2014 usually Alameda \u2014 that would never be paid back. They then \u201cspent\u201d this \u201cmoney\u201d to buy shares in the companies.<\/p>\n<p>No actual money ever moved \u2014 it was all paper shuffling. Ray alleges the inner circle abused their control to drain the companies of client funds and put those funds in their own pockets.<\/p>\n<p>SBF and Wang bought $546 million of shares in Robinhood in the same way. Alameda had bought the Robinhood shares, then SBF and Wang wrote themselves a loan and bought the shares from Alameda with Alameda\u2019s own money.<\/p>\n<p>Even former FTX counsel Daniel Friedberg said: \u201cit is just a round trip \u2014 from AR Ltd to Sam\/Gary to Emergent back to AR Ltd.\u201d<\/p>\n<p>Sam also looked out for his family. He moved $10 million of crypto from an Alameda account on FTX US to his personal account, then to his father Joseph Bankman\u2019s account on FTX US. Joseph then moved $6,775,000 out to his accounts at Morgan Stanley and TD Ameritrade. Joseph seems to have been using this money to fund Sam\u2019s criminal defense.<\/p>\n<p>Ellison paid herself a $22.5 million bonus, apparently just because she could. She used $10 million of that to buy shares in an \u201cartificial intelligence safety and research company\u201d \u2014 and the \u201csafety\u201d thrown in there suggests it&#8217;s Yudkowsky nonsense rather than technology that exists, so that\u2019s more money to the rationalist cult. She paid herself another $6 million on top of that.<\/p>\n<h3>The FTX inner circle knew the company was insolvent<\/h3>\n<p>All of this happened while the inner circle already knew FTX was insolvent \u2014 and that makes this knowing fraud.<\/p>\n<p>Remember that FTX\u2019s software <a href=\"https:\/\/davidgerard.co.uk\/blockchain\/2022\/11\/17\/declaration-of-john-jay-ray-ftx-is-worse-than-enron\/\">specifically allowed Alameda to run a negative balance<\/a> on the exchange without collateral. This line of free credit to Alameda was by itself a large factor in FTX\u2019s huge deficits:<\/p>\n<blockquote><p>By March 2022, Ellison privately estimated that the FTX exchange had a cash deficit alone of more than <i>$10 billion.<\/i><\/p><\/blockquote>\n<p>Emphasis in original.<\/p>\n<h3>\u201cFor PR and political reasons it\u2019s really important to do bio things\u201d<\/h3>\n<p>In a separate complaint filed on July 19, Ray\u2019s team is suing the FTX Foundation, its front company Latona, and the six life sciences companies Latona invested in for $71.5 million. The transfers were made under the guise of Effective Altruism. [<a href=\"https:\/\/storage.courtlistener.com\/recap\/gov.uscourts.deb.188450\/gov.uscourts.deb.188450.1881.0.pdf\"><i>Doc 1881<\/i><\/a><i>, PDF<\/i>]<\/p>\n<p>In January 2022, FTX created a company called Latona Biosciences Group, a \u201csham\u201d nonprofit organized in the Bahamas, as an arm of the FTX Foundation. SBF said that Latona would:<\/p>\n<blockquote><p>support promising new drugs transition from ideas to reality. We anticipate devoting substantial funding to support the necessary processes; building out an efficient, safe clinical trial process in The Bahamas; and developing robust supply chains, both for production and distribution of potentially life saving medication.<\/p><\/blockquote>\n<p>Of course, all the money Latona funneled into life sciences companies was Alameda customer money.<\/p>\n<p>To run Latona, SBF hired Ross Rheingans-Yoo \u2014 who he met while working as a trader at Jane Street. Incidentally, Ross\u2019s younger brother Dunan was one of the founders of the obscure hedge fund Modulo Capital, which <a href=\"https:\/\/davidgerard.co.uk\/blockchain\/2023\/01\/25\/crypto-collapse-us-banks-leave-crypto-how-genesis-kept-gemini-hanging-on-ftx-binance-nexo\/\">got $400 million from FTX.<\/a> Modulo returned that money in February. [<a href=\"https:\/\/www.nytimes.com\/2023\/02\/15\/technology\/ftx-modulo-capital.html\"><i>NYT<\/i><\/a>]<\/p>\n<p>The six life sciences companies that benefited from Latona\u2019s generous donations included Platform Life Sciences, Lumen Bioscience, GreenLight Biosciences Holdings, Riboscience, Genetic Networks, and 4J Therapeutics.<\/p>\n<p>Platform Life Sciences got the biggest slice of the pie \u2014 over $53 million.<\/p>\n<p>FTX got no monetary benefit from these investments, just looking good politically. They conducted near-zero due diligence on the life sciences companies. SBF said in an internal document: \u201cfor PR and political reasons it\u2019s really important to do bio things, and to do some public\/networky bio things.\u201d<\/p>\n<p>Rheingans-Yoo told the CEO of Platforms Life Sciences: \u201cIn general, our [Latona\u2019s] participation should be described as \u2018FTX Foundation\u2019 in all public-facing communication\u201d and \u201cwe\u2019d prefer not to mention the discussion terms of the equity stake at this point, to avoid pulling the public narrative to speculation about profit motive.\u201d<\/p>\n<p>SBF, Rheingans-Yoo, and Nick Beckstead, the CEO of FTX Foundation, set things up so they would personally receive any profit upside from the investments \u2014 never mind Latona being a nonprofit. Beckstead wrote: \u201cMain thing: if it makes a ton of money, how open do we need to be about that?\u201d<\/p>\n<h3>Embed Financial Technologies: \u201cI get a sense that they are [cowboy emoji] over there\u201d<\/h3>\n<p>Ray also filed in May to recover $237 million from Michael Giles \u2014 the former CEO of <a href=\"https:\/\/davidgerard.co.uk\/blockchain\/2023\/05\/22\/crypto-collapse-tether-makes-up-some-numbers-uk-mps-call-crypto-gambling-more-regulatory-clarity-news-from-chapter-11\/\">Embed Financial Technologies<\/a>, a stock clearing startup that Alameda acquired in 2022 \u2014 and Embed\u2019s former shareholders. [<a href=\"https:\/\/storage.courtlistener.com\/recap\/gov.uscourts.deb.189938\/gov.uscourts.deb.189938.1.0.pdf\"><i>Complaint<\/i><\/a><i>, PDF; <\/i><a href=\"https:\/\/www.courtlistener.com\/docket\/67403514\/alameda-research-ltd-v-giles\/\"><i>Case docket<\/i><\/a>]<\/p>\n<p>FTX US bought Embed to set up FTX Stocks, a proposed stock trading platform for US customers. FTX approached Embed in March 2022 and finalized the deal on September 30, 2022 \u2014 six weeks before FTX declared bankruptcy.<\/p>\n<p>Embed\u2019s software never actually worked. FTX employees noted in June the \u201cEmbed platform\u2019s inability to handle approximately 600 new user accounts as part of the gradual release of FTX Stock.\u201d<\/p>\n<p>Again, FTX didn\u2019t bother with due diligence \u2014 \u201cthe FTX Insiders prioritized speed above all else\u201d \u2014 and just accepted Giles\u2019 terms, including paying $157 million to Giles himself. \u201cI get a sense that they are [cowboy emoji] over there,\u201d said one Embed employee to another.<\/p>\n<p>As of March 2022, Embed had $37 million in assets and just $25,000 in net revenue.<\/p>\n<p>When Ray\u2019s team tried to sell off Embed in the bankruptcy, the only bid was $1 million from Giles himself.<\/p>\n<h3>FTX and Genesis will be settling<\/h3>\n<p>In other news, FTX in chapter 11 and Genesis in chapter 11 both have claims against each other. The lawyers for both sides have told the court that they have a settlement in principle and will be sending in the details shortly. FTX previously claimed that Genesis owed it about $2 billion. [<a href=\"https:\/\/restructuring.ra.kroll.com\/genesis\/Home-DownloadPDF?id1=MjEyNDc4Nw==&amp;id2=-1\"><i>Doc 555<\/i><\/a><i>, PDF<\/i>]<\/p>\n<h3>The battle to unseal the FTX creditor list<\/h3>\n<p>The top 50 creditors in the FTX bankruptcy are owed $3.1 billion. These aren\u2019t individual creditors, but large institutional creditors. They have asked Judge John Dorsey to keep their names sealed \u2014 which is against all normal bankruptcy practices. In November, Judge Dorsey allowed the creditors\u2019 names to be withheld.<\/p>\n<p>Several media companies are battling to make the FTX creditor list public. The New York Times, Dow Jones (Wall Street Journal), Bloomberg, and the Financial Times argue there is no legal basis to keep the creditor list private. The US Trustee has joined in. Appeal briefs are due by August 21. [<a href=\"https:\/\/storage.courtlistener.com\/recap\/gov.uscourts.ded.82840\/gov.uscourts.ded.82840.6.0_2.pdf\"><i>Doc 6<\/i><\/a><i>, PDF; <\/i><a href=\"https:\/\/storage.courtlistener.com\/recap\/gov.uscourts.ded.82840\/gov.uscourts.ded.82840.11.0.pdf\"><i>Doc 11<\/i><\/a><i>, PDF; <\/i><a href=\"https:\/\/www.courtlistener.com\/docket\/67523648\/bloomberg-lp-v-ftx-trading-ltd\/\"><i>case docket<\/i><\/a><i>; <\/i><a href=\"https:\/\/www.courtlistener.com\/docket\/67566082\/vara-v-ftx-trading-ltd\/\"><i>case docket<\/i><\/a>]<\/p>\n<h3>My girlfriend is a neoreactionary race scientist, your honor, but consider: she is very emotional and whiny about it<\/h3>\n<p>Over in the criminal case, SBF just won\u2019t stop messing around. He leaked excerpts from what is purportedly Caroline Ellison\u2019s diary to the New York Times, which ran a tawdry story on \u201cthe private writings of Caroline Ellison,\u201d quoting some of her doubts about the state of FTX and Alameda in its last months. [<a href=\"https:\/\/www.nytimes.com\/2023\/07\/20\/technology\/ftx-caroline-ellison-bankman-fried.html\"><i>NYT<\/i><\/a>]<\/p>\n<p>The prosecution is fed up with Sam\u2019s efforts to \u201ctaint the jury pool\u201d and discredit a key witness. On the same day the New York Times story was published, the government wrote to Judge Lewis Kaplan asking for tighter bail restrictions: [<a href=\"https:\/\/storage.courtlistener.com\/recap\/gov.uscourts.nysd.590940\/gov.uscourts.nysd.590940.176.0.pdf\"><i>Doc 176<\/i><\/a><i>, PDF<\/i>]<\/p>\n<blockquote><p>When the Government learned this week that this Article was forthcoming, defense counsel confirmed that the defendant had met with one of the Article\u2019s authors in person and had shared documents with him that were not part of the Government\u2019s discovery material.<\/p><\/blockquote>\n<p>In a court conference on July 26, lawyers for both parties discussed whether SBF\u2019s bail conditions were adequate. Now the prosecution wants the judge to revoke Sam\u2019s bail.<\/p>\n<p>It turns out that Sam has been drip-feeding the New York Times for a while: [<a href=\"https:\/\/storage.courtlistener.com\/recap\/gov.uscourts.nysd.590940\/gov.uscourts.nysd.590940.184.0_4.pdf\"><i>Doc 184<\/i><\/a><i>, PDF<\/i>]<\/p>\n<blockquote><p>Prior to the conference on July 26, 2023, the Government analyzed the data from a pen register on the defendant\u2019s phone and email, and learned that over the last several months, the defendant sent over 100 emails to members of the media, had over 1,000 phone calls with members of the media, and had over 100 phone calls with one of the authors of the Article, many of them lasting for approximately 20 minutes. Many of these communications occurred prior to the publication of other articles about Ellison, including by the same author.<\/p><\/blockquote>\n<p>Sam has a First Amendment right to speak \u2014 but not a right to taint witnesses in the trial against him. Particularly given he already <a href=\"https:\/\/amycastor.com\/2023\/01\/28\/crypto-collapse-ftx-family-subpoenas-sbf-witness-tampering-celsius-bids-revealed-more-crypto-banking-woes\/\">tried to suborn another witness<\/a> in January.<\/p>\n<p>We\u2019re pretty sure Sam is headed back to a cell, where he\u2019ll learn Morse code just so he can tap out more crimes on the water pipes.<\/p>\n<br><br><div align=\"center\"><p><a href=\"https:\/\/www.patreon.com\/bePatron?u=8420236\"><img src=\"https:\/\/davidgerard.co.uk\/blockchain\/wp-content\/uploads\/2021\/10\/become_a_patron_button.svg\" alt=\"Become a Patron!\" title=\"Become a Patron!\" width=217 height=51><\/a><br><p style=\"align:center;\" class=\"patreon-badge\"><i>Your subscriptions keep this site going. <a href=\"https:\/\/www.patreon.com\/bePatron?u=8420236\">Sign up today!<\/a><\/i><\/p><\/div>","protected":false},"excerpt":{"rendered":"<p>\u201cI get a sense that they are [cowboy emoji] over there.\u201d<\/p>\n","protected":false},"author":1,"featured_media":25799,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[3582,2653,1986,3349,3341,2960,3364,3317,3585,3365,3426,3513,484,1798,3568,3345,2890,3581,3579,3572,2963,3315,3574,3575,263,3441,3578,3584,3571,3409,3573,3350,3583,3346,3569,3577,3570,3580,1343,3576,2491,3351],"class_list":["post-25798","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorised","tag-4j-therapeutics","tag-alameda","tag-bahamas","tag-bloomberg","tag-caroline-ellison","tag-carrick-flynn","tag-dan-friedberg","tag-delaware","tag-dunan-rheingans-yoo","tag-effective-altruism","tag-eliezer-yudkowsky","tag-embed","tag-financial-times","tag-ftx","tag-gabriel-bankman-fried","tag-gary-wang","tag-genesis","tag-genetic-networks","tag-greenlight-biosciences-holdings","tag-guarding-against-pandemics","tag-jane-street","tag-john-jay-ray","tag-joseph-bankman","tag-latona","tag-lesswrong","tag-lewis-kaplan","tag-lumen-bioscience","tag-michael-giles","tag-michael-sadowsky","tag-modulo","tag-nauru","tag-new-york-times","tag-nick-beckstead","tag-nishad-singh","tag-people-for-progressive-governance","tag-platform-life-sciences","tag-protect-our-future","tag-riboscience","tag-robinhood","tag-ross-rheingans-yoo","tag-sam-bankman-fried","tag-wall-street-journal"],"jetpack_featured_media_url":"https:\/\/davidgerard.co.uk\/blockchain\/wp-content\/uploads\/2023\/07\/ftx-inner-circle.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/posts\/25798","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/comments?post=25798"}],"version-history":[{"count":33,"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/posts\/25798\/revisions"}],"predecessor-version":[{"id":25832,"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/posts\/25798\/revisions\/25832"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/media\/25799"}],"wp:attachment":[{"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/media?parent=25798"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/categories?post=25798"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/tags?post=25798"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}