- Apple is paying $5 million for rights to the book Going Infinite: The Rise and Fall of a New Tycoon. So, Author Michael Lewis is the one behind the book.
- The book is a biography of Sam Bankman-Fried.
Sam Bankman-Fried fell off in the crypto industry despite his gracious rise to the top. So, the downfall was due to the collapse of FTX.
Apple Buys Rights to Sam Bankman-Fried Book for $5 Million
- Apple purchased the rights to a book by author Michael Lewis based on FTX founder Sam Bankman-Fried’s bio. So, the tech giant will now take over the profits made from the book and the marketing structure once it launches in October. Sam Bankman-Fried is the founder of bankrupt crypto exchange FTX, currently facing criminal charges. However, the new book is about how SBF life and the failure of his crypto exchange.
- To take over the rights to this SBF book, the tech giant will pay $5 million for rights to the book titled Going Infinite: The Rise and Fall of a New Tycoon. Furthermore, the best-selling author Michael Lewis is the one behind the writing and creation of this book. This is quite an unexpected Move from Apple, and many enthusiasts will wait to see how it turns out. Nevertheless, what is the book about?
What is the New Book About?
- The author behind this new book is so popular that he has other best-selling books like The Big Short and The Blind Side. In fact, many of his books have Hollywood adaptations.
- According to reports about the author of this book, he has quite some good knowledge of Sam Bankman-Fried. Furthermore, there are claims that he was a very close witness to the rise and fall of the popular crypto exchange. He reportedly stayed with the former crypto billionaire for 12 months and has some close-range overview of what happened. So, this book shows Sam Bankman-Fried reputable figure in the crypto industry. It also describes the occurrence of the $8 billion implosion at his company before it got to the court.
Update on Sam Bankman-Fried?
- The FTX case in court has Sam Bankman-Fried facing many charges. So, the new CEO, John Ray III, sued SBF and former executives for $1 billion. SBF, on the other hand, is denying all the allegations made against those charging him in court. Nevertheless, four former executives from his crypto empire, including ex-Alameda Research boss Caroline Ellison, entered guilty pleas.
- Sam Bankman-Fried charges bases on money laundering, Ponzi schemes, and many others. His trial will begin on October 3rd, which is the same day author Lewis plans to release the Going Infinite book.
- Wrapping up, Sam Bankman-Fried fried was once one of the most prominent crypto CEOs in the industry. However, the failure of the prominent FTX happened, leading to many charges against him. Recently, Apple bought the rights to his book Going Infinite: The Rise and Fall of a New Tycoon.
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