Posts Tagged ‘FTX’

Beginnings (Not)


November 13th, 2022 Posted 8:11 am

Normally on Sundays we do beginnings, taking a look at the start of a Peter Abrahams novel, including those written under the Spencer Quinn moniker™. But with the very recent collapse of the crypto exchange FTX we want to post this little excerpt from The Numbers After Two, found in the Chet and Bernie short story collection Short Tails, available wherever books are sold, and maybe a good place for newcomers to the C&B series start (so feel free to share this post). One of the amazing things about the FTX story is not that so many little guys are going to lose their investments – that’s expected – but that the same thing is happening to big, sophisticated hedge funds and private equity investors. So here’s out little excerpt. Bernie, the detective, is talking to Crommie, a young man of about the age of Sam Bankman-Fried (FTX founder, and what a perfect character surname – I wish I’d come up with it). Chet narrates the story – a dog, yes, but not a talking one!

But – but how does it work?” Bernie said.

“You good with numbers? What’s your math background?”

“Mediocre and long ago.”

I polished off the last bacon bit. Numbers was the subject? Not my strongest strength. I seldom go past two, as I may have mentioned already.

Crommie nodded. “Basically what we do – me and a few guys in various parts of the world who came up with the concept – is run all the blockchain algorithms backwards. Do you realize that when you do that you’re actually going back in time?”

Bernie shook his head.

“Neither did we, at first. And then our programs started spitting out all this money! Where was it coming from? After a while it hit us – the money was coming from the future! Like maple syrup was flowing out of the bottle and back into the tree. And we were in the tree, Bernie!”

“Is … is it legal?” Bernie said.

“Legal to run algorithms backward?” said Crommie. “The question answers itself.”

“How about running them inside out?”

Crommie laughed, a laugh quickly cut off. He leaned back, gave Bernie a close look. I’d seen that look directed at Bernie before, the look of a someone starting to realize what he was dealing with.

“You’re a smart operator, huh?” he said.

“I wouldn’t say that,” said Bernie.



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