FTX Was a Fraud From the Beginning, Regulators Say

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The Street

By Luc Olinga U.S. regulators paint a bleak picture of the crypto empire of Sam Bankman-Fried. Sam Bankman-Fried has launched a media offensive in recent weeks to give his version of the facts of the overnight implosion of his crypto empire. The central message from the founder of cryptocurrency exchange FTX and its sister company, Alameda Research, was that the spectacular bankruptcy was the result of simple mistakes and no luck. “I made a lot of mistakes,” he said during his first interview, on Nov. 30 with The New York Times/DealBook. “There are things I would give anything to be able to do…

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