Author of "The Big Short": SBF once modified the rules to extend the employee SRM lock-up period after the SRM rose sharply

链捕手ChainCatcher · 2023-10-04T03:53:03.000Z

ChainCatcher news, Michael Lewis, the author of "The Big Short", revealed in his new book "Going Infinite" that former FTX CEO Sam Bankman-Fried was worried that his employees would hold a large amount of SRM tokens due to the sharp rise in the price of Serum (SRM) tokens in 2021. Coins become rich and may no longer be willing to work up to 14 hours a day on their crypto trading platform. Therefore, Bankman-Fried modified the release rules for SRM tokens to lock employees’ SRM tokens for seven years. It is reported that Michael Lewis's new book about SBF "Going Infinite: The Rise and Fall of a New Tycoon" is scheduled to be published on October 3. Multiple sources revealed that Apple acquired the rights to the book for US$5 million. Michael Lewis's other books include The Fallen Crypto King Sam Bankman-Fried & FTX, The Big Short, and more.

According to ChainCatcher, Michael Lewis, author of The Big Short, revealed in his new book Going Infinite that former FTX CEO Sam Bankman-Fried was worried that his employees would become rich by holding a large number of SRM tokens and might no longer be willing to work up to 14 hours a day for his crypto trading platform due to the sharp rise in the price of Serum (SRM) tokens in 2021. Therefore, Bankman-Fried modified the release rules of SRM tokens and locked employees' SRM tokens for seven years.
It is reported that Michael Lewis' new book about SBF, "Going Infinite: The Rise and Fall of a New Tycoon", is scheduled to be published on October 3. Multiple sources revealed that Apple acquired the copyright of the book for $5 million. Michael Lewis's other works include "The Fallen Cryptocurrency King Sam Bankman-Fried & FTX" and "The Big Short".