cryptocurrency

How Sam Bankman-Fried swindled $8 billion in customer money, according to federal prosecutors

How Sam Bankman-Fried swindled $8 billion in customer money, according to federal prosecutors

Before his surprise Monday night arrest, Sam Bankman-Fried had apologized for everything he could think of, to everyone who would listen. In a leaked draft of his aborted House testimony, he wrote that he was truly, for his entire adult life, “sad.” He “f—– up,” he tweeted, and wrote, and said. He told Bahamas regulators …

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From $32 billion to criminal investigations: How Sam Bankman-Fried's empire vanished overnight

From $32 billion to criminal investigations: How Sam Bankman-Fried’s empire vanished overnight

Samuel Bankman-Fried’s poster in downtown San Francisco. MacKenzie Sigalos | CNBC The Kimchi Swap put Sam Bankman-Fried on the map. The year was 2017, and the ex-Jane Street Capital quant trader noticed something funny when he looked at the page on CoinMarketCap.com listing the price of bitcoin on exchanges around the world. Today, that price …

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In bankrupt Lebanon, locals mine bitcoin and buy groceries with tether, as $1 is now worth 15 cents

In bankrupt Lebanon, locals mine bitcoin and buy groceries with tether, as $1 is now worth 15 cents

Aerial view of the seafront Manara district near downtown Beirut. Bilwander | Getty Images When Georgio Abou Gebrael first heard about bitcoin in 2016, it sounded like a scam. But by 2019, as Lebanon plunged into a financial crisis following decades of expensive wars and bad spending decisions, a decentralized and borderless digital currency operating …

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