Just a mere month ago, disgraced former FTX CEO Sam Bankman-Fried was the undisputed king of the digital asset industry. Now the 30-year-old is under arrest, facing criminal charges) from the U.S. The Department of Justice, and civil charges from the Securities and Exchange Commission and the Commodity Futures Trading Commission. FTX has declared bankruptcy, and almost a million FTX creditors are unlikely to get their money back.
Meanwhile contagion continues to spread through the ecosystem, with all eyes on crypto exchange Binance, that’s faced more than $1 billion in withdrawals in recent days. And some market watchers fear the stablecoin Tether could be the next crypto domino to fall.
Bloomberg crypto editor Anna Irrera) and Bloomberg reporter Misyrlena Egkolfopoulo) join the show.
Subscribe to the Bloomberg Crypto Newsletter at* *https://bloom.bg/cryptonewsletter)* *
See omnystudio.com/listener) for privacy information.
