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Is FTX the biggest scandal in crypto?
FTX may be the biggest scandal in crypto so far; sadly, it is unlikely to be the last. Kenneth Rogoff is professor of economics and public policy at Harvard University. He was the IMF’s chief economist from 2001-03.Why did FTX go out of business?
FTX, founded by Sam Bankman-Fried and once a behemoth of the crypto industry, imploded last month after some big trading firms withdrew their money amid allegations that the exchange had used billions of dollars in customer deposits to bail out Alameda Research, the crypto trading firm that he co-founded.Should FTX founder Sam Bankman-fried be charged?
Many small investors who piled into cryptocurrencies on FTX, BlockFi and other platforms are recognizing the perils of investing in an unregulated industry. Federal authorities are trying to determine whether criminal charges should be filed against the founder of the crypto firm FTX, Sam Bankman-Fried, and others over the company’s collapse.Should FTX return to its decentralised roots?
On the other hand, Vitalik Buterin, the co-founder of the ethereum blockchain and one of the crypto industry’s most influential thinkers, has argued that the real lesson of FTX’s collapse is that crypto needs to return to its decentralised roots.