Through the previous week, Dr. Lerner had a entrance row seat to the implosion of Mr. Bankman-Fried Empire. First, the dramatic collapse of FTX, which adopted what amounted to a financial institution run by a rival crypto change. Then the revelations a few billion-dollar shortfall on FTX’s steadiness sheet, which reportedly stemmed from cash he funneled to Alameda Analysis, a crypto hedge fund that was carefully tied to FTX, and a mysterious hack that left greater than $500 million lacking from FTX. chests And now, the numerous, many indignant FTX prospects, regulators and legislation enforcement demanding to know what occurred and the place all the cash went.
Dr. Lerner declined to say whether or not he had spoken to Mr. Bankman-Fried since chapter. He targeted on serving to FTX workers handle what occurred, he mentioned.
“I used to be type of a hand, ensuring individuals obtained dwelling safely,” he mentioned.
In latest days, a lot has been product of FTX’s uncommon company tradition. The corporate, which had about 300 workers, was primarily run by 20 years, a few of which Mr. Bankman-Fried’s curiosity in efficient altruism. Some FTX workers lived collectively in a palatial group dwelling. A number of are, or was once, in romantic relationships with one another, together with Mr. Bankman-Fried, who had dated Alameda Analysis CEO Caroline Ellison.
Particulars concerning the romantic pairings reported by CoinDesk final week led some Twitter gossips to name FTX a “polycle,” a time period for a community of non-monogamous relationships.
However Dr. Lerner rejected that concept, saying the corporate’s tradition was removed from orgiastic.
“It is a fairly tame place,” mentioned Dr. Lerner mentioned. “The superiors largely performed chess and board video games. There was no partying. They had been subsexual, if something.”
Dr. Lerner, 46, described FTX as an organization filled with younger, hard-working individuals who believed deeply within the firm’s mission. Many have moved to the Bahamas from huge cities in the USA and Asia, he mentioned. Few workers went out at night time or made native associates; largely, he mentioned, they spent lengthy days and nights on the workplace.