Before November, Sam Bankman-Fried and FTX were little known to the general public. That changed in November when CoinDesk published a damning report about Sam Bankman-Fried’s crypto trading firm Alameda Research. The CoinDesk report showed what appeared to be a Ponzi scheme in the fast lane. Alameda Research had banked on FTX’s native FTT token as the majority of its balance sheet. In short, it was using its own “tokens” as collateral against itself.Read More
BREAKING: Bankman-Fried’s Closest Allies Plead Guilty to Fraud in FTX Scandal
