FTX's Toxic Culture and Discrimination: A Former Employee's Story

FTX's Toxic Culture and Discrimination: A Former Employee's Story

Dani Cloud (@daniiicloud) discusses her time working at the cryptocurrency trading company FTX.


In his thread, she discusses the company's culture, which allegedly includes orgies and discrimination against female employees. They mistreated women in the workplace. Dani reveals that one of the running jokes at the company was that the best way for a woman to get a job at FTX was to be the female spouse of an existing employee. They considered this the best way for a woman to get hired at the company. She describes how women who pushed back against this discrimination were frequently fired from their jobs at the company.

She also elaborated on

"the half-dozen condos were leased or bought by FTX to provide free access to employees. Besides the costs associated with staying in five-star hotels. The entire process was so inefficient that it became iconic, but it was still utterly captivating. Growing up in a public school on the south side of Chicago, I had never seen so much money in my entire life."

She also discusses the company's commitment to effective altruism and how it fell short of its promises, such as offering no-fee bank accounts and a guaranteed monthly income to one hundred formerly incarcerated individuals in Chicago. Dani explains that it initially drew her to the company because of its commitment to effective altruism and the opportunity to work on exciting projects.

Dani Cloud (@daniiicloud)
Dani Cloud (@daniiicloud)

She quickly concluded that the company's culture was poisonous and incompatible with her values. She explains how the company's CEO, Sam Bankman-Fried, was notorious for his odd behavior and complete disregard for his workforce's health and safety. One illustration of this was that the organization used a mental health specialist who was not qualified for the role and spent more time socializing with the staff than actually providing any support for them. Dani was also subjected to inappropriate comments made by the specialist regarding her personal life.

FTX's Toxic Culture and Discrimination: A Former Employee's Story

Dani could find happiness at FTX because of the friendships she formed and the work she could do, despite the difficulties she faced there.

But in the end, she quit the company because its toxic culture and values weren't aligned with hers. She hopes she can shed some light on the inner workings of FTX under SBF's leadership by talking about what happened to her.

Moreover, she leaves us with this daunting revelation. SBF didn't do it alone. He had connections, funding, and privileges that I can't even fathom, but he still couldn't have made it this far without the help of strangers worldwide. He was lauded and held in high regard as the messiah of the crypto community. We all pretended not to see what was going on. Even in the wake of his demise, we are not prioritizing the industry's preservation or integrity.

The newsfeeds are flooded with false prophets and people pretending to be martyrs.

Disclaimer: Nothing on this site should be construed as a financial investment recommendation. It’s important to understand that investing is a high-risk activity. Investments expose money to potential loss.

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