Sam Bankman-Fried, who founded and led FTX until a liquidity crunch forced the cryptocurrency exchange to declare bankruptcy, is escorted out of the Magistrate Court building after his arrest in Nassau, Bahamas on Dec 13, 2022. Regulators are probing the role played by two people who, based on their bona fides, also should have known better: his parents. — Reuters
FTX founder Sam Bankman-Fried was known to blur the lines between personal and professional, most famously by shacking up in a luxury Bahamas penthouse with nine colleagues.
But as regulators and lawmakers take aim at the disgraced crypto mogul, they’re widening their scope beyond his band of twenty- and thirty-somethings – “grossly inexperienced and unsophisticated individuals”, in the words of FTX’s new chief executive – and probing the role played by two people who, based on their bona fides, also should have known better: his parents.
