A new book on SBF's controversial biography has been released recently, and the author Michael Lewis has frequently been interviewed by major media. After reading the book, foreign media The Block summarized the SBF’s many outrageous and amazing plans, including trying to fully repay the Bahamas’ tens of billions of national debt, and lending billions of dollars to support Musk’s acquisition of Twitter.

(Previous summary: SBF biographer: SBF once wanted to spend $5 billion to make Trump withdraw from the election, FTX is not a Ponzi scheme)

SBF Biography: Towards Infinity

The new book "Going Infinite - The Rise and Fall of the New Business Tycoons" by Michael Lewis, the original author of the movie "The Big Short", has been much discussed recently. The content points out multiple hidden plans that SBF had envisioned or actually implemented, which is amazing.

Trying to spend tens of millions of dollars to buy seats in Congress

Chain News previously reported that the book pointed out that SBF’s spending is based on “the goal of preventing serious infectious diseases and safeguarding American democracy.”

In addition to considering spending US$5 billion to ask Trump, who risks undermining American democracy, to withdraw from the election, he also spent US$12 million to fully support Carrick Flynn's Democratic primary campaign in May last year, saying that SBF would Flynn is seen as someone who can fight the next serious outbreak.

The book even mentions that the SBF devised a strategy to try to influence voters' choices and even try to buy seats in Congress.

However, following Flynn's defeat, author Lewis also wrote:

The $12 million attempt was one of the most significant political manipulation failures in American history.

Repay the tens of billions of Bahamas national debt

The book also mentions that SBF chose the Bahamas as the company headquarters for a large number of its businesses in 2021 because of the legalization of the encryption industry, and even provided the Prime Minister of the Bahamas with an offer to repay the country about US$10 billion. National debt plan.

Lewis said the SBF had developed a plan to pay off the country's huge national debt while improving local infrastructure.

Wants to lend 1 billion to help Musk acquire Twitter

It is worth mentioning that the book states that SBF even asked financial giant Morgan Stanley to provide a $1 billion loan to assist it in investing in Musk’s Twitter acquisition, and intended to use his exchange token FTT as collateral.

Lewis writes in the book that Musk has turned to SBF for help in trying to raise about $44 billion for the acquisition.

In this regard, SBF proposed to FTX’s two senior executives, Singh and Arora, to fund it with US$250 million to US$1 billion in the name of FTX, but they were opposed by them.

However, the SBF allegedly ignored their advice.

Are insurance funds randomly generated?

Another revelation is not from a book, but FTX co-founder Gary Wang confirmed in court recently that the amount of funds held in his insurance fund is not the actual amount, but a number randomly generated through a formula.

We took a random number, approximately 7,500, multiplied it by the platform’s daily trading volume, divided it by 1 billion, and that’s how much we added to the insurance fund.

Wang revealed that the true insurance fund balance does not match the figures shown to the public and is actually lower.

It is reported that the insurance fund is a financial instrument that protects the trading market of exchanges or financial institutions from huge losses or default events, thereby maintaining market stability.

Is the author sympathetic to SBF?

The Block reported that Michael Lewis has been documenting the conspiracies behind the American market for decades, starting with his 1989 debut novel "Liar's Poker: The Investment Game on Wall Street," making his work and work controversial.

His biography of the former CEO of the former encryption industry giant FTX is generally considered to be his most controversial work to date. Some people have criticized Lewis for being attracted by the charm of SBF and giving a biased description of it.

Several book critics claimed that the biography misled readers by focusing on portraying a sympathetic image of SBF:

Through carefully crafted vocabulary and narrative, Lewis portrays SBF as an idealistic and naive person, rather than a man with evil intentions who orchestrated the largest cryptocurrency scam in the world.

This article SBF Biography | Ever wanted to spend 1 billion magnesium to help Musk acquire Twitter? Taking stock of SBF’s hidden plans first appeared on Chain News ABMedia.