Sam Seder
@TheMajorityReport·2M subscribers·30.1K videos
Collapse Of A Crypto Empire: The Rise And Dramatic Fall Of Sam Bankman-Fried
Posted
November 19, 2023
Views
17,021
Likes
632
Comments
121
Engagement
4.42%
November 19, 2023
17,021
632
121
4.42%
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10:15Now PlayingJacob Silverman joins to discuss the fall of crypto guru Sam Bankman-Fried. SBF, founder of the cryptocurrency exchange FTX, has been found guilty on seven counts, including wire fraud, conspiracy to commit wire fraud, and conspiracy to commit money laundering. The Securities and Exchange Commission alleges that FTX was fraudulent from the beginning, accusing Bankman-Fried of misappropriating and embezzling customer deposits, using the funds for investments, real estate purchases, and repaying lenders. The scheme was exposed after CoinDesk published an article revealing the close links between FTX and Alameda Research, leading to Binance CEO Changpeng "CZ" Zhao divesting from FTT tokens. Bankman-Fried resigned from FTX following the expose, and a New York jury returned a guilty verdict after a year.
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