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The Independent UK

National

Ken Sweet

Sam Bankman-Fried's downfall sends shockwaves through crypto

Sam Bankman-Fried FTX Crypto Changpeng Zhao Binance United States Bitcoin Cory Klippsten Sequoia Democratic Party

Copyright 2022 The Associated Press. All Rights Reserved.

Sam Bankman-Fried received numerous plaudits as he rapidly achieved superstar status as the head of cryptocurrency exchange FTX: the savior of crypto, the newest force in Democratic politics and potentially the world’s first trillionaire.

Now the comments about the 30-year-old Bankman-Fried aren’t so kind after FTX filed for bankruptcy protection Friday, leaving his investors and customers feeling duped and many others in the crypto world fearing the repercussions. Bankman-Fried himself could face civil or criminal charges.

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