After the FTX cryptocurrency exchange filed for bankruptcy last year, Thomas Braziel, an investor who specializes in collapsed businesses, started brokering an unusual kind of transaction: a market to profit from FTXs downfall.
The US federal agencies - the SEC, DOJ, the Treasury Department - are intensifying their efforts against illegal cryptocurrency activities. However, an ensuing debate about regulatory clarity, calls for new regulations to distinguish between legitimate and illicit crypto assets.
Bankman-Fried has pleaded not guilty to seven counts of fraud and conspiracy. He has acknowledged inadequate risk management, but denied stealing funds.
FTX founder Sam Bankman-Fried’s spectacular rise and fall in the cryptocurrency industry hit rock bottom Thursday when a New York jury convicted him of.