"Sam Bankman Fried was my hero. This has blown my mind"
I'm a junior trader at crypto trading firm. I graduated last year and am a big believer in the future of crypto, but what happened yesterday has blown my mind.
FTX had a program to hire students at my university and it was seen as one of the best places to work. They have a cool office in the Bahamas and had only just tweeted about their new Miami office. In the span of a few days they've gone from this and from Sam Bankman Fried tweeting about his political donations to chaos.
Excited to get the keys to our new Miami office today pic.twitter.com/ULK9EsFeo0— FTX (@FTX_Official) November 7, 2022
It now seems that Binance might not rescue FTX after all. If that happens, what will it mean for FTX employees? In June, SBF came out with the following twitter thread below about FTX being a good place to work. In it, he says FTX has deliberately refrained from over-hiring, that its 25 developers are more productive than most and that 250 employees were probably enough.
A lot of people I know bought into that. There was a huge amount of admiration for what SBF achieved in such a short space of time. SBF was all about taking things slow and steady and not making the mistakes of other crypto firms regarding growth and subsequent staff cuts, but now what?
I think this will make people of my age much more hesitant about going into crypto. Personally, I'm concerned about the broader crypto eco system, but I also think that if you can hold a job in this environment and crypto bounces back over the next few years you’re going to be in a very good place.
1) Zig Zag and hiring:— SBF (@SBF_FTX) June 6, 2022
why FTX is going to keep growing as others cut jobs
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