Sam Bankman-Fried’s empire sank from a price of $32bn all the way in which to chapter.
FTX has been thought-about one of many most secure and most dependable exchanges of a freewheeling cryptocurrency trade, which desires to carry tokens into the monetary mainstream.
However Sam Bankman-Fried’s $32bn empire collapsed virtually in a single day, highlighting the intense volatility of the digital currencies. The downfall has despatched shockwaves throughout the market and raised questions over its viability.
He has apologised, however that has not helped multiple million collectors who’re doubtlessly now out of pocket.
Elsewhere, we ask why are tech firms shedding workers.