The fallout of Sam Bankman Fried’s-FTX Empire

Mr. Bankman-Fried admitted in an interview that he had grown too quickly and had missed warning signs. He did, however, reveal few details about his handling of FTX customers' funds.

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The Aftermath of FTX’s Downfall

The sudden collapse of the crypto exchange has left the industry stunned.

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Sam Bankman Fried’s & Its FTX Empire

– He started his journey in the world of cryptocurrencies in early 2018. He was an early investor in Bitcoin and Ethereum and he made a lot of money trading them.

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The Creation of its FTX Empire

He then created FTX empire with the goal to help people make money from crypto trading. The company would teach people how to trade cryptocurrencies, give them access to investment opportunities, and provide them with a community where they could share their experiences

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A Symbiotic Relationship

– Mr. Bankman-Fried built FTX partly to help the trading business of Alameda Research, his first company. The ties between the two entities are now coming under scrutiny.

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Missing Assets

– Lawyers for FTX said a substantial amount of the company’s assets had either been stolen or were missing, casting doubt on the odds of recovering billions of dollars in crypto that customers lost.

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A Bid for Influence

​​In just three years, Mr. Bankman-Fried built a massive operation to woo politicians, regulators, and nonprofits to support his crypto goals.

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Learn How Crypto Currencies in an Hour Courses

Quadruple your Money with Free Cryptocurrency Courses + Ebooks[Bit Sized Courses]

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