FTX collapse makes Enron movie a must-see

November 2022
The collapse of crypto exchange FTX has prompted comparisons to Enron Corp, one of the biggest bankruptcies in history.

That’s a good reason for watching the documentary Enron: The Smartest Guys in the Room. It gives and engaging lesson on Enron’s history and why they’re comparing it to FTX.

The recent FTX collapse has raised suspicion that owner and Chief Executive Sam Bankman-Fried conducted inappropriate deals with FTX customers’ money.

Bankman-Fried was once seen as one of the smartest guys in crypto. FTX’s failure abruptly changed that, a bit like what happened to Enron.

Around 2000 Enron executives were praised for what seemed to be their genius ability to make money. It turned out, though, they weren’t playing by the rules.

Enron filed for bankruptcy in Dec 2001. Afterwards authorities found evidence of criminal dealings which led to prison sentences for the CEO and others.

Enron: The Smartest Guys in the Room is a must-see. Check out the trailer:

Reference shelf:
FTX’s downfall shows the problems exposed by Enron have only gotten worse (Washington Post)

Sam Bankman-Fried was hailed as a crypto wonder child. What happened? (The Guardian)

What FTX’s Bankman-Fried Said When We Asked Him About Red Flags (Bloomberg)

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Celebrities for crypto have gone quiet after price drops

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