E20: LLB - FTX Breakdown, Technologists, Dear Leaders, TradFi/DeFi Intersect, Human Nature & Maximalist Explorations
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The FTX drama ensues. In this episode Patrick Ambrus helps break down the Alameda Research and FTT structure and explains why it was wrong. He gives a very clear and succinct timeline of how the crash happened with new and unique insights. I have known Pat since 2006, and he is one of the best critical thinkers I know. His applied work, research, and insights in the crypto space are definitely worth paying attention to if you are interested in this space. Some big insights revolved around the nature of Alameda and FTX and why this was allowed, where we are realistically in crypto currency adoption, what is needed to build the future of crypto, and the possibilities of cohesion vs bifurcation. Overall, despite the doom and gloom, Pat paints a very optimistic future. Tune in to hear it! Topics: Pre-Show (00:00:00) | Show Intro (00:01:13) | Patrick Ambrus (00:02:32) | What Happened With FTX (00:05:40) | Alameda Structure (00:14:55) | The Biggest Problem With FTX Structure (00:18:09) | CEX Bankruns vs Real DeFi (00:21:45) | Coinbase vs FTX structure (00:27:33) | Technologist (00:29:40) | TradFi/Crypto Intersect (00:32:17) | Crypto Infra/App Layers (00:40:24) | Talent/Dear Leaders/Bridging Worlds (00:50:37) | Crypto Fracturing & The Future (00:57:19) | Human Nature/Maximalism Explored (01:05:21)
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