Former FTX CEO Bankman-Fried considered $5B offer to prevent Donald Trump presidential run
Michael Lewis described SBF as a gambler who struck a goldmine by creating his cryptocurrency exchange.
Former FTX CEO Sam Bankman-Fried (SBF) considered paying Donald Trump $5 billion to dissuade him from running for president, according to Michael Lewis, an author writing a book on the disgraced founder.
“There was a number that was kicking around. And the number that was kicking around when I was talking to Sam about this was $5 billion.”
According to Lewis, SBF considered the payment because he thought Trump posed an existential risk to U.S. democracy and was only held back by the subsequent collapse of his firm and thoughts of whether such payments were legal.
Lewis revealed this in a 60-minute interview with CBS that aired on Oct. 1.
Describes SBF as a gambler
Beyond that, Lewis said SBF is a gambler who struck a goldmine by creating his cryptocurrency exchange.
According to Lewis, SBF realized that “all the crypto exchanges are screwed up in one way or another. There are dozens of these places where you can trade crypto, but they are– they’re not structured for a professional trader. The technology is bad. They’ll lose their customers’ money. It’s the wild west.”
“He started as a gambler and he realized that, you know, building the better casino was actually gonna be more valuable.”
Going Infinite: The rise and fall of a New Tycoon
The book, “Going Infinite: The Rise and Fall of a New Tycoon,” will be launched on Tuesday, Oct. 3. The book’s launch comes on a day when the embattled CEO’s trial is scheduled to begin with a Jury selection.
Speaking about the book, Lewis described it as a “kind of letter to the jury.” According to him, his story is better than the other stories from the counsels of the prosecutors and the defendant.
Meanwhile, CBS describes Michael Lewis as a writer who focuses on jump-off-the-page characters and uses them to tell complicated stories. While preparing the book, Lewis gained unlimited access to SBF with his numerous visits to the Bahamas.
The charges against SBF could cause him several years in prison if found guilty. However, how the book’s content may affect the court trial scheduled to begin this week remains unknown.