Sam Bankman-Fried, the former CEO of FTX, one of the world’s largest cryptocurrency exchanges before it suddenly went bankrupt, is no fashion icon. His signature style was a wrinkled T-shirt and baggy cargo shorts, even when hobnobbing with celebrities and former leaders of the free world.
In an excerpt from his forthcoming book, Going Infinite: The Rise and Fall of a New Tycoon, author Michael Lewis details how Bankman-Fried entertained an invitation to the Met Gala, the most prestigious fashion event of the year, only to back out at the last minute.
The Met Gala Snub
On Valentine’s Day in 2022, Anna Wintour, editor-in-chief of Vogue, approached Bankman-Fried at a celebrity-studded event in Los Angeles.
Wintour pitched sponsorship for the Met Gala, and Bankman-Fried nodded along, apparently agreeing. However, unbeknownst to Wintour, Bankman-Fried was preoccupied with a video game.
What is a Sponsorship?
A sponsorship is an arrangement where a company or individual pays to support an event or organization in exchange for exposure and promotional benefits.
Bankman-Fried’s team began planning for the event, even reaching out to Louis Vuitton about designing a custom outfit for him. However, Bankman-Fried eventually backed out, leaving Wintour’s team outraged.
A spokesperson for Vogue later disputed Lewis’s account, without providing any further details.
Other Revelations from “Going Infinite”
Bankman-Fried’s Met Gala snub is just one of many anecdotes revealed in Michael Lewis’s book.
- Bankman-Fried considered paying former President Donald Trump billions of dollars to drop out of the 2024 presidential race.
- Bankman-Fried pledged large sums of money to Tom Brady and Gisele Bündchen to promote FTX.
Who is Michael Lewis?
Michael Lewis is an American author known for his bestselling books on finance and the economy, including Moneyball, The Big Short, and Flash Boys.
Bankman-Fried’s criminal trial is scheduled to begin on October 4, 2023. The trial is expected to be one of the most highly covered white-collar criminal cases of the decade.
Glossary
- Cryptocurrency: A digital currency that uses cryptography for security.
- Crypto exchange: A platform where you can buy, sell, and trade cryptocurrencies.
- Met Gala: An annual fundraising gala for the Metropolitan Museum of Art in New York City.
- Vogue: A fashion and lifestyle magazine.
- White-collar crime: A non-violent crime typically committed for financial gain.
Sources
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