Sam Bankman-Fried's lending to bankrupt crypto institutions using borrowed money that FTX did not have parallels John Pierpont Morgan's role in the Panic of 1907, earning the nickname 'JP Morgan of crypto', except that Morgan's interventions were stabilizing (selective bailouts, gold imports) while Bankman-Fried's were fraudulent (using other people's deposits).
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“he he was lending to uh bankrupt crypto institutions uh we we now learned he was lending to them with money that he did not have uh but he was called the JP Morgan of crypto... John pierpa Morgan from what he did in 1907”
Created: 8/11/2026, 1:31:04 AM
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