The downfall of FTX and Sam Bankman Fried (SBF)


How could something like the collapse of FTX happen? This gives cryptocurrency a bad name, and I would hesitate to put my money in it. You would think there would be government regulation to prevent something like this. 

This is old news, but it is a good example of fraud. The founder, Sam Bankman-Fried, or SBF as he is known, wasn't qualified to be in charge of a company like this. All of these Crypto firms need to be monitored to be sure they are on the up and up. A perfect example is the stock market. I'm no pro when it comes to understanding the stock market and trading, but I know enough that there is regulation.


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