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FTX: 'King of Crypto' parents sued over missing millions (bbc.com)
52 points by belter on Sept 19, 2023 | hide | past | favorite | 8 comments


I figured it was only a matter of time before lawsuits/charges were brought against the parents.

There's been little info coming out about the role his parents played, until very recently. There's this for example [1]

Seems that his parents were very connected and used their connections to open doors for Sam/FTX. His father for sure was helping steer the company side from a legal standpoint, and his mother was helping on the political side (donations).

My armchair psychological assessment is that this is just another case of well connected elites becoming true believers in their own view of the world, and, combined with blind faith in their son who was the golden child, they followed it through to it's logical conclusion. I'm sure they're just as stunned as Sam is that it all came crashing down.

Not sure "world view bubble" is a thing, but something like that sort of explains the times we live in. People disconnected from reality, surrounded by other people disconnected from reality, doubling down on their own self-assuredness.

[1] https://archive.ph/D6qPM


The irony is they claim to teach financial ethics to people at Stanford…


Or maybe it speaks to the financial ethics they believe people at Stanford should learn.


Exactly, the words Stanford and Ethics violation have appeared in print together more than a few times in recent memory.

The president recently no less, right?


Do they? What classes?


Well, not anymore but they used to. Now they just live in a house owned by Stanford that they have questionably used as leverage to cover bail money.


See here [1] [2] Apparently Barbara Fried has retired, and Joseph Bankman is taking time off to focus on things.

[1] https://law.stanford.edu/directory/joseph-bankman/ [2] https://law.stanford.edu/directory/Barbara-Fried/


"The best stuff Sam Bankman-Fried’s parents bought using FTX money" - https://www.theverge.com/2023/9/19/23880783/bankman-fried-ft...




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