Josh Goltry is the Founder and Chief Investment Officer at JAG Capital. Josh talks about his reaction to FTX's collapse, the incongruencies beginning to arouse suspicion around Co-Founder Sam Bankman-Fried, and the salacious goings on at the exchange's Bahamian HQ. He then describes how so many seemingly sophisticated investors bought into what amounts to a Ponzi scheme and talks about how FTX's collapse could be a good thing for crypto in the long term.
Today Ryan Pallotta breaks down what's happening with Josh Goltry. Josh is the Founder and Chief Investment Officer at JAG Capital.
This entire chat focuses on the collapse of what was, until recently, the third-largest crypto exchange by volume—FTX.
Josh starts by describing his initial thoughts on the story when it broke, listing a slew of incongruencies that were beginning to arouse suspicion around Co-Founder Sam Bankman-Fried.
He then describes how so many seemingly sophisticated investors bought into what amounts to a Ponzi scheme and talks us through what he describes as "piggybacking."
Josh then talks about how FTX's collapse could be a good thing for crypto in the long term and what this all means for the last major crypto onramp in the US—Coinbase.