Nearly all of us know how the FTX saga is unravelling. Is it an example of the Indian authorities being on point by effectively stamping crypto out of the country?
Looks like we’ve dodged a bullet with FTX. Okay, make it two with Terra Luna. Right. Three with the BTC crash. Fine. Four with the NFT bust.
That, brings me back to the case of FTX, which, if investigated will probably lead to not just financial impropriety where Sam Bankman-Fried and Alameda research created artificial value on self-issued tokens, used those tokens as collateral to take loans and kept the cycle going as long as they could before someone (and there’s always someone) pulled the curtains apart.