Bloomberg made aware of FTX in June, did nothing because it would be "bad for business"
In Coffeezilla's latest video he debunks the narrative that some of the media seem to be pushing. That SBF was just in over his head, he is a good guy, he did not know what he was doing, and so on. He also talks to Marc Cohodes, who have looked into SBF a lot earlier than most.
The key takeaways
As always I would recommend that you watch the video yourself. But in case you're strapped for time. I thought I would give you the bullet points here. First Coffeezilla dispels this narrative that seems to be pushed about SBF not actively committing fraud and crimes.
He also talks to Marc Cohodes, who probably was the person who caught on to SBF the earliest. He points to some red flags such as the fact that SBF's accountant's address is in the "Metaverse".
But more importantly, he tells you that he and a friend approached Bloomberg with their evidence and questions back in July. And Bloomberg's response to this. They said that running the story and asking the questions would lose them access, it might cost people their job, it would be too much work, and ultimately it would be bad for business. Meaning that it could cost them money from advertisers.
This ladies and gentlemen are why you had to wait till early November before we were made aware. And perhaps more importantly giving SBF and his cronies 3 more months to do whatever it was they share doing.
I hope that you found this short post and video interesting. And as always please sound off in the comment section down below. If you would like to support me and the content I make, please consider following me, reading my other posts, or why not do both instead.
See you on the interwebs!
Picture provided by: Bloomberg.com screenshot