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CoinDesk
They Burned Down Crypto. Now They Want a Comeback
On Wednesday, Vox published a bombshell interview with former crypto exchange FTX CEO Sam Bankman-Fried, where the 30-year-old crypto trader all but revealed he had, in fact, co-mingled customer funds with those of his hedge fund, Alameda Research. This would be a problem on its own, as it violated FTX’s terms-of-service as well as likely falls afoul of wires or securities laws. Bankman-Fried’s crime, which “wasn’t quite lending [customer deposits] out” but something “messier,” “more organic” and “reasonable” than that, was compounded after a run on his exchange left up to one million FTX users without access to their funds.
