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HomeCryptoFTX’s Bankman-Fried’s Filmed Crypto Trading Lesson Shelved Post-Collapse

FTX’s Bankman-Fried’s Filmed Crypto Trading Lesson Shelved Post-Collapse

In a classic case of hindsight being 20/20, it seems that FTX’s co-founder, Sam Bankman-Fried, filmed a tutorial on cryptocurrency trading for the renowned MasterClass platform mere months before the crypto exchange’s dramatic downfall.

Bankman-Fried crafted his educational piece last summer, ahead of the FTX crash in November. Interestingly, his tutorial was conspicuously absent from MasterClass’ subsequent unveiling of crypto and blockchain expert lessons in December, according to a report from The New York Times.

In a detailed examination of Bankman-Fried’s intriguing link with Hollywood agent-turned-investor Michael Kives, The New York Times highlighted the array of connections Kives masterminded between SBF and numerous high-profile figures from the worlds of entertainment, politics, and business.

Allegedly, it was Kives who opened the door to MasterClass for Bankman-Fried. However, the decision to halt Bankman-Fried’s crypto lesson was reportedly made after the footage was shot during the summer and before the MasterClass December unveiling of their “Crypto and the Blockchain” series.

The line-up for the said series boasted some heavy hitters from the world of crypto, including Binance CEO Changpeng Zhao, Coinbase COO Emilie Choi, and Nobel laureate economist Paul Krugman. Both Coinbase and Binance have faced heightened scrutiny from U.S. regulators recently, following charges of securities law violations.

MasterClass’ comprehensive catalog spans over 180 lessons on diverse topics such as learning chess with Garry Kasparov, culinary skills with Gordon Ramsay, and even writing with “The Handmaid’s Tale” author, Margaret Atwood.

The Times’ report confirmed what had been a mere rumor on social media about Bankman-Fried’s MasterClass filming, which was swirling around during the period when FTX was crashing.

Interestingly, Kives also reportedly tried to arrange meetings between SBF and many celebrities and bigwigs, such as Katy Perry, Orlando Bloom, Bill Clinton, Elon Musk, Leonardo DiCaprio, and Ron DeSantis.

The aftermath of FTX’s collapse led to Bankman-Fried’s bankruptcy lawyers filing a lawsuit against Kives and his venture capital firm, K5, seeking to recover the estimated $700 million Bankman-Fried had sunk into it.

Simultaneously, Bankman-Fried navigates several fraud charges related to the FTX collapse, along with allegations of illegal money transfers between the crypto exchange and his trading firm, Alameda Research.

As of now, we’ve had no official comments from MasterClass, Bankman-Fried, or Kives. But this story serves as a stark reminder that, in the often volatile world of crypto, fortune can turn as swiftly as the tide. For aspiring investors and entrepreneurs, the key takeaway would be the importance of thorough research, strategic planning, and always having a Plan B.