FTX Collapse: Bankman-Fried’s Rise Ends in a Jail Cell

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The Street

By Luc Olinga Until November 8 morning, Sam Bankman-Fried, the founder of the cryptocurrency exchange sat on top of the crypto world. What a coincidence! On December 11, 2008, almost fourteen years to the day, conman Bernie Madoff was arrested at his apartment in New York and was charged with having been the mastermind of a Ponzi scheme that had swallowed up at least $65 billion. This fraud is considered one of the biggest financial fiascos in history. Photos of the former chairman of the Nasdaq stock exchange, with his silver hair, were strewn across the headlines. He was the face of financia…

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