More Things That Don't Fit
Here's more of the conventional FTX narrative that just doesn't fit. Remember that new CEO Ray's big complaint about FTX was that not only did they not keep payroll records, they basically didn't have an organization chart. It was just a bunch of millennials with ADHD playing video games in a luxury condo. Right? Here's FTX skeptic Marc Cohodes's take, as quoted by Alex Berenson : They were glorified interns, they had no experience, they had no exchange experience, they had no capital markets experience. . . which led me to believe this is a giant fraud. . . This is the basic media narrative and the received explanation, it was all Sam and Caroline and the others makin' whoopie in a yellow submarine. No org charts. No wonder! But wait a moment. The demise of cryptocurrency exchange FTX has brought an end to FTX Arena in Miami, or at least its name. Naming-rights deals, in which companies spend up to $500 million to put their names on sports facil...