Following the utter collapse of the (at the time) seventh-largest cryptocurrency exchange in the world, a group of developers decided to create a new token in protest of the alleged wrongdoings of its then-CEO, Sam Bankman-Fried. The token SBFP (Sam Bankman-Fried Prison) was created as a lighthearted way to engage with the crypto community — […]
The collapse of one of the world’s largest cryptocurrency exchanges affected every single person in the cryptocurrency world. Undoubtedly the most important cryptocurrency moment of 2022 (topping Ethereum’s merge), FTX’s bankruptcy not only brought the entire market down but also affected several other exchanges. So far, BlockFi also filed for bankruptcy, while U.S. crypto broker […]
Sam Bankman-Fried, the former Chief Executive Officer of FTX, reveals what truly happened in the days leading up to the company declaring bankruptcy. Also, he gives reasons why the exchange only permitted withdrawals for Bahamian users. Bankman-Fried argues in a phone chat with cryptocurrency blogger Tiffany Fong on Nov.16 that he decided to allow withdrawals […]
