Lessons From FTX Crypto Exchange Failure – Bitcoin Magazine

Lessons From FTX Crypto Exchange Failure - Bitcoin Magazine

This is an opinion editorial by Captain Sidd, a finance writer and explorer of Bitcoin culture.

If you haven’t heard, one of the largest crypto exchanges, FTX, was the latest in a number of dominos to fall in the crypto “industry.”

The founder of that exchange, Sam Bankman-Fried, had evolved into a media darling over the past two years — gracing the cover of Fortune magazine and earning interviews with the likes of CNBC and Bloomberg. SBF, as he’s often referred to, studied physics at MIT and spent time at the renowned arbitrage trading firm Jane Street. He styled himself as the nerdy gigabrain, with a messy mop of hair and a penchant for sleeping in the office while building a financial empire just so he could donate it all to charity.

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