The collapse of FTX Trading Ltd. in November took the cryptocurrency market by storm, shaking up the already fragile sector. Industry experts have referred to the crypto exchange's bankruptcy as its "Lehman moment," alluding to the historic 2008 collapse of Lehman Brothers Inc., which triggered a worldwide recession. FTX Founder Sam Bankman-Fried was sued by the U.S. Securities and Exchange Commission (SEC), which alleged that he engaged in a "massive, yearslong fraud." Talks Of A Reboot In the
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The FTX founder, who has been charged with fraud, said the crypto exchange and its law firm had been acting against him and offering only the most incriminating evidence to prosecutors.