SBF’s ‘house of cards’ is the crypto industry’s problem now: Morning Brief

Sam Bankman-Fried, the disgraced founder and former CEO of FTX, has had a bad week. A bad week that follows a bad month.

Bankman-Fried, known as SBF in the crypto world, was arrested on Monday and charged by three different U.S. authorities — the Department of Justice, the SEC, and the CFTC — on Tuesday.

As alleged in the SEC's complaint, the offshore crypto exchange SBF claimed to have built was a mirage, or as SEC Chair Gary Gensler said: "A house of cards [built] on a foundation of deception while telling investors that it was one of the safest buildings in crypto."

Myles Udland | Yahoo Finance

Related News

Browse By Category

Share:

Send Us A Message