4min snip

The Trial of Sam Bankman-Fried cover image

Mr. Wonderful On The Fall Of FTX

The Trial of Sam Bankman-Fried

NOTE

The Involvement of Big-Name Investors and the Future of the Crypto Industry

Investing in startups is like investing in movies. You have successes and failures, but the big wins make it all worth it. In this case, there were well-known investors involved, but there wasn't just one person who started it all, it was more of a fear of missing out situation. The companies on the cap table understood the risks, and while the alleged fraud will play out in court, it won't stop the industry from moving forward. The industry will continue, but with new management and a focus on compliance. The founders of today will be replaced, and new exchanges will be built in different countries.

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