Editorial: Cryptocurrency stars can flame out. But they can’t take their customers with them

Out of nowhere, 30-year-old Sam Bankman-Fried became a billionaire mover and shaker in the world of cryptocurrency. Careful to make friends of powerful Democrats and media columnists alike, he threw money around the halls of Congress — and everywhere else he went — while threatening to disrupt Chicago’s financial futures industry. Known by his initials, “SBF” is a billionaire no more. The house of cards he built over the past several years came crashing down in a matter of days. His FTX crypto exchange and the entangled Alameda Research hedge fund are now in bankruptcy, amid reports that custo…


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