Sam Bankman Fraud: Inside the Collapse of FTX’s Hollow Empire
The Breakdown
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The Source of Rot in Cryptocurrency
There are a few possible answers to why tokens like FTT and SRM were used as little more than a shell game. The SEC has been taken to task for spending time on Kim Kardashian settlements instead of this actually horrible damaging stuff. One possibility is that the rot has to do with the type of business relationship that simply shouldn't be allowed to exist. But there is another source of rot here, one which in our necessary self-reflection we cannot forget.
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