- Michael Saylor sat down with Daniel Prince to talk about the year 2022.
- They spoke about various events including the collapse of the FTX exchange.
- Saylor spoke about the FTX event and his opinion about Sam Bankman-Fried.
In one of the most recent YouTube videos, Michael Saylor, the founder, and chairman of MicroStrategy sat down with Daniel Prince, an author, and host of the Once Bitten Pod. The duo spoke about various topics in the video titled “The Year in Review 2022.”
Saylor and Prince spoke about various issues and how Bitcoin changed the views of time, risk, and property, the annual highlights and lowlights; securities conflicts at FTX; and the thoughts on Bitcoin adoption by nation-states.
Speaking on the FTX issue, Saylor stated that there is a stigma associated with related-party transactions. He stated that since Alameda is a related party to FTX and FTT is a related party, Sam Bakman-Fried is the issuer of FTT. Saylor also mentioned that SBF is the owner of Alameda and FTX and also the issuer of FTT tokens.
The reason there is a stigma is that if you took FTX public, and by the way FTX accepts FTT, the question a skeptical investor would have is, well since the same person controls all three if it turns out that Alameda has a billion-dollar trading loss, will SBF liquidate Alameda to protect the interests of other customers?
The other scenario is whether SBF won’t liquidate Alameda to protect his own interests. Saylor also mentioned that a disinterested CEO of the crypto bank who was honest would have lent Alameda anywhere between $0 and $10 million, but instead, SBF lent billions.
Through his statement, Saylor was hinting at the fact that SBF was not an honest CEO and that he mishandled customer funds by moving them between Alameda and FTX.
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