Samuel Chacon
Samuel Chacón
Electrical Engineer & Technology Entrepreneur
👋 Introduction
Hello everyone! My name is Samuel Chacón, and I am originally from 🇻🇪 Venezuela but currently reside in São Bernardo do Campo, São Paulo, Brazil 🇧🇷

I am an electrical engineer and software development professional who owns a technology consulting company. Currently, I provide email marketing support for Sky Brasil, a major telecommunications company. Something interesting about me: I have been married for 15 years, and my wife is also studying at BYU! By God's grace, we will both complete all our coursework this December 2025.

Living in Brazil as a Venezuelan has given me a unique perspective on economic resilience and financial planning - experiences that have shaped my understanding of business sustainability and the critical importance of sound financial management.
📰 Financial Failure Case Study

Company: FTX Cryptocurrency Exchange

📖 Read the Full Story: Reuters - How FTX's Collapse Unfolded

FTX, once valued at $32 billion, collapsed in November 2022 due to liquidity crisis and alleged misuse of customer funds. The exchange filed for bankruptcy after it was revealed that billions in customer deposits were allegedly used to cover losses at Alameda Research, a trading firm also owned by Sam Bankman-Fried.

🛡️ What FTX Could Have Done to Prevent Failure:
  • Proper Fund Segregation: Maintained strict separation between customer deposits and company operational funds
  • Independent Auditing: Implemented regular third-party audits with transparent financial reporting
  • Regulatory Compliance: Adhered to established financial regulations and obtained proper licenses
  • Risk Management: Established clear risk limits and avoided using customer funds for high-risk trading
  • Corporate Governance: Created independent board oversight and eliminated conflicts of interest
  • Liquidity Management: Maintained adequate reserves to handle customer withdrawals during market stress
  • Transparency: Provided regular proof-of-reserves and clear communication about fund usage

As someone working in the technology sector, I believe this case demonstrates that innovative technology means nothing without fundamental financial integrity and proper governance structures. The FTX collapse affected millions of users worldwide and highlighted the critical importance of trustworthy financial management in any business.

🚀 I'm excited to learn with all of you and explore how proper financial management can build sustainable businesses!
Looking forward to engaging discussions throughout this course! 📚