Sam Bankman-Fried (SBF) rose to prominence as the head of the now-defunct FTX, one of the largest crypto exchanges in the world at one point, and Alameda Research, its sister company. Before their collapse, SBF’s net worth was reportedly over$26 billion, which was wiped clean in Novemb...
If the bankruptcy of FTX wasn’t bad enough for those who had invested in the exchange, worse was to come. Late on Nov. 11, rumors began to spread through cryptoTwitterthat something suspicious was happening with FTX.Blockchain recordsshowed thathundreds of millions of dollarswere being yanked...
In fact, it brings to mind situations reminiscent of Theranos and FTX, both of which were revealed to be fraudulent and outright criminal. Despite the cogency of Marc Andreessen’s logic, his description of PMF is not particularly useful for determining if a startup has achieved PMF. But if ...
FTX CEO Sam Bankman-Fried is like a modern day robber baron in at least one way. As the digital asset industry tumbles downward in fits and starts, the titan of industry who sometimes skips lacing his shoes is thinking about ways to prevent calamity – and perhaps profit. This weekend,...