BREAKDOWN: Guy Who Oversaw Enron Says FTX Is Worse

CoinDesk Podcast Network

Bankruptcy-related filings show woefully inadequate processes and billions in loans to founders.

This episode is sponsored by Nexo.io, Circle and Kraken.

Today NLW covers two major updates in the FTX saga. The first is first-day declarations by FTX’s new CEO John J. Ray III that argue that, in short, FTX is worse run than Enron. The second are messages between Sam and a Vox reporter in which Sam lets the veneer of ethics down and reveals his true beliefs about power.

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Circle, the sole issuer of the trusted and reliable stablecoin USDC, is our sponsor for today’s show. USDC is a fast, cost-effective solution for global payments at internet speeds. Learn how businesses are taking advantage of these opportunities at Circle’s USDC Hub for Businesses.

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Kraken, the secure, trusted digital asset exchange, is our sponsor for today’s show. Kraken makes it easy to instantly buy 185+ cryptocurrencies with fast, flexible funding options. You’re covered by industry-leading security and award-winning Client Engagement, available 24/7. Sign up and trade today at kraken.com.

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“The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. Music behind our sponsors today is "Back To The End" by Strength To Last. Image credit: Greg Smith/Corbis via Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.

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