Former FTX users say the crypto exchange’s failure was a “Ponzi scheme”. Here’s how it works and what we know about how Sam Bankman-Fried works
Until recently, Sam Bankman-Fried, or SBF, was crypto’s golden boy, known for turning his cryptocurrency exchange, FTX, into a $32 billion giant in just two years. But the disheveled, left-leaning 30-year-old was living a lie. SBF, who claimed to be a minimalist philanthropist, had used client funds to prop up his failing crypto empire and …
