The exchange platform cryptocurrency company FTX filed for US bankruptcy protection last November.
With dozens of projects, a fortune estimated at 26 billion US dollars, an improbable look with his curly black hair and his eternal Bermuda shorts, Sam Bankman-Fried had ended up single-handedly embodying the world of cryptos.
< p class="StyledBodyHtmlParagraph-sc-48221190-4 hNZoeU">The veneer began to crack in early November 2022, after revelations that part of FTX clients' funds had been used, without their knowledge, to fund the Alameda subsidiary to make risky investments.
A movement of panic immediately followed, individuals and commercial partners all seeking to recover their stake in an emergency, to the point of causing the fall of FTX, placed in bankruptcy.
When the dust settled, some US$8.7 billion was missing, according to the receiver appointed to manage the liquidation.
Teilor Stone has been a reporter on the news desk since 2013. Before that she wrote about young adolescence and family dynamics for Styles and was the legal affairs correspondent for the Metro desk. Before joining Thesaxon , Teilor Stone worked as a staff writer at the Village Voice and a freelancer for Newsday, The Wall Street Journal, GQ and Mirabella. To get in touch, contact me through my firstname.lastname@example.org 1-800-268-7116