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

律动BlockBeats · 2023-10-04T03:33:03.000Z

BlockBeats news, on October 4, according to CoinDesk, Michael Lewis, the author of "The Big Short", revealed in his new book "Going Infinite" that former FTX CEO Sam Bankman-Fried had a sharp rise in the price of Serum (SRM) tokens in 2021. It is worried that its employees, who have become rich by holding large amounts of SRM tokens, may no longer be willing to work up to 14 hours a day on its crypto trading platform. Therefore, Bankman-Fried modified the release rules for SRM tokens to lock employees’ SRM tokens for seven years. BlockBeats previously 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 $5 million. Michael Lewis's other books include The Fallen Crypto King Sam Bankman-Fried & FTX, The Big Short, and more.

According to BlockBeats, on October 4, CoinDesk reported that Michael Lewis, the author of "The Big Short", revealed in his new book "Going Infinite" that FTX's former CEO Sam Bankman-Fried was worried that his employees would become rich by holding a large number of SRM tokens due to the sharp rise in the price of Serum (SRM) tokens in 2021, and might no longer be willing to work up to 14 hours a day for his crypto trading platform. Therefore, Bankman-Fried modified the release rules of SRM tokens and locked employees' SRM tokens for seven years. BlockBeats previously 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 works also include "The Fallen Cryptocurrency King Sam Bankman-Fried & FTX" and "The Big Short".