Monday, December 5, 2022

Sex orgies, drugs and luxury apartments

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FTX bankruptcy more and more bizarre

Sex orgies, drugs and luxury apartments

Crypto prodigy Sam Bankman-Fried has fallen low. Details are now coming to light in the indictment that show the extent of the case.

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Former crypto prodigy Sam Bankman-Fried is broke.

Sam Bankman-Fried (30), CEO of the third largest crypto exchange, lost everything within a few days. His company FTX is bankrupt. For a long time he was considered a crypto prodigy. Now he is blamed for the biggest fraud scandal in the crypto world. He is said to have robbed his customers of billions. And has put the entire crypto industry in a bad light.

Court documents show things are even worse than feared. The managers of the Bahamas-based crypto exchange FTX were enjoying themselves before the collapse – at the expense of customers. And the company was partially amateurish. There were practically no internal controls. The first class action lawsuits have already been announced.

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