Sam Bankman-Fried went from cryptocurrency golden boy to the face of the industry's collapse. The founder and former CEO of the massive cryptocurrency exchange FTX was sentenced to 25 years in prison Thursday after being convicted of fraud for stealing at least $10 billion from customers and in...
followed by a large volume of withdrawals from rattled investors. The value of FTT plummeted, taking other coins down with it includingEthereumandBitcoin, which reached a two-year low on Nov. 9, 2022. Other exchanges were affected by the FTX collapse, including BlockFi, whichfiled for bankrupt...
All-time high prices for bitcoin and other cryptocurrencies plummeted in the spring due to investor concerns about inflation and the new COVID-19 Omicron variant. Some cryptocurrency exchanges went bankrupt. Thecollapse of the FTX exchangeand arrest of its CEO Sam Bankman-Fried amplified fears about...