Cryptocurrency

Cryptocurrency

Crypto was supposed to solve financial corruption. But FTX shows it’s just got worse | David A Banks

On 11 November 2022 FTX declared bankruptcy. The firm was once heralded as the Goldman Sachs of crypto, and its CEO, Sam Bankman-Fried, was deemed by some the next Warren Buffett. And now, just after proclaiming in an interview that he would not be arrested, he is in custody in the Bahamas awaiting extradition to the US. He is charged with a litany of fraud and campaign finance law violations, in what US prosecutors are calling “one of the biggest financial frauds in American history”. Casual investors, along with funders...
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