Crypto Biz: FTX fallout leaves blood in its wake
Companies exposed to Sam Bankman-Fried's bankrupt cryptocurrency exchange are beginning to crumble.
Newsletter
Bitcoin (BTC) is the greatest monetary revolution of the modern era. By simply buying and holding Bitcoin, citizens are organizing a peaceful protest against the indentured bondage caused by the fiat economy. In the process, they initiated one of the greatest wealth transfers of all time – a process that will take decades to fully unfold.
Bitcoin has also galvanized a trillion-dollar cryptocurrency and blockchain industry – a double-edged sword that is both inspiring and frightening. Sam Bankman-Fried, the disgraced founder of the now bankrupt FTX Group, is a case study in what can go wrong when outcasts run big corporations. Sam Bankman-Fried, or SBF as it is often called, has "sincerely apologized" for defrauding investors, misleading auditors and using client funds to back FTX's sister hedge fund. We haven't even unraveled the political network that SBF finds itself in, which could include Gary Gensler of the United States Securities and Exchange Commission.
This week's Crypto Biz continues to unpack the implosion of FTX, which 10 days ago was the second largest digital asset exchange in the world.
Sam Bankman-Fried is 'under surveillance' in the Bahamas and seeks to flee to DubaiAfter denying rumors that he...
Companies exposed to Sam Bankman-Fried's bankrupt cryptocurrency exchange are beginning to crumble.
Newsletter
Bitcoin (BTC) is the greatest monetary revolution of the modern era. By simply buying and holding Bitcoin, citizens are organizing a peaceful protest against the indentured bondage caused by the fiat economy. In the process, they initiated one of the greatest wealth transfers of all time – a process that will take decades to fully unfold.
Bitcoin has also galvanized a trillion-dollar cryptocurrency and blockchain industry – a double-edged sword that is both inspiring and frightening. Sam Bankman-Fried, the disgraced founder of the now bankrupt FTX Group, is a case study in what can go wrong when outcasts run big corporations. Sam Bankman-Fried, or SBF as it is often called, has "sincerely apologized" for defrauding investors, misleading auditors and using client funds to back FTX's sister hedge fund. We haven't even unraveled the political network that SBF finds itself in, which could include Gary Gensler of the United States Securities and Exchange Commission.
This week's Crypto Biz continues to unpack the implosion of FTX, which 10 days ago was the second largest digital asset exchange in the world.
Sam Bankman-Fried is 'under surveillance' in the Bahamas and seeks to flee to DubaiAfter denying rumors that he...
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