Mother Jones51%
The Secret Story of FTX’s Rise and Ruin Part 1 – Mother Jones 51%
By Reveal74%
7/11/2026, 3:01:00 AM
BS Summary: This article contains 17 faulty reasoning types, including Anecdotal, Framing Effect, and Appeal to Emotion, with Attempt to Sell a Product or Service as the most egregious example at 32.3% saturation with 131 hits. Analysis detected 654 faulty-reasoning hits from 406 analyzed words, generating a BS Score of 50.6% and a BS Rank of 51% (10,824 of 21,887 articles). This article is worse (more manipulative) than 50.50% of the article peer group.
FTX founder Sam Bankman-Fried arrives at the federal court in New York in February 2023.
Timothy A.
Clary/AFP/Getty
Sam Bankman-Fried was once called the “crypto king.”
But in November 2022, his company, FTX, imploded within a matter of days.
All around the world, customers of the cryptocurrency exchange were suddenly cut off from their money.
“I tried to withdraw an amount, you know, and it would spin and say, your, your withdrawal is pending,” says Tareq Morad, an investor from Canada.
“I remember myself doing that around 7, 8 o’clock at night, checking back, going to look: Okay, did it go through?
Did it go through?
No.
No.
No.”
Meanwhile, inside the company, employees were panicking.
“All that we were told was there’s been a run on the bank and, somehow, money is missing and we don’t know who to trust,” remembers Caroline Papadopoulos, part of FTX’s accounting leadership at the time.
This week on Reveal , through prison interviews with Bankman-Fried, his parents, FTX insiders, and customers, we take you through the frantic week of FTX’s collapse and the controversial and less well-known bankruptcy that followed.
At a cost of nearly $1 billion, it has become one of the most expensive in history.
Read the FTX bankruptcy estate’s on-the-record statement to Reveal .
This is an update of a show that originally aired in September 2025 .
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Speakers
3speakers28%attributed speech292writer words
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100%flagged-word coverageCaroline Papadopoulos
36 attributed words32% of attributed speech89% writer coverage
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Analysis
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