The story of Sam Bankman-Fried, the founder of cryptocurrency exchange FTX, has been one of dizzying heights and devastating lows. Just a few short years ago, Bankman-Fried was hailed as a rising star in the world of digital assets, and his exchange FTX, was a go-to destination for professional traders. As the value of Bitcoin soared, Bankman-Fried's wealth followed suit, reaching stratospheric levels.
However, the glittering success of Bankman-Fried and FTX was shortlived, as the exchange filed for bankruptcy and Bankman-Fried was arrested on charges of fraud, sending shockwaves through the cryptocurrency industry and causing a loss of investor confidence. Outflows have been reported across exchanges, and the value of Bitcoin has plummeted from over $67,000 in November to around $17,000, where it has remained for the past month.
The collapse of FTX and the subsequent criminal investigation are just the latest in a series of controversies that have chipped away at investor confidence in digital assets. In addition to rising interest rates and inflation, the failure of stablecoin Terra has further eroded trust in the asset class.
Diese Geschichte stammt aus der December 2022-Ausgabe von People Matters.
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Diese Geschichte stammt aus der December 2022-Ausgabe von People Matters.
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