What you should know of Sam Bankman\u002DFried and the demise of his crypto empire.
“We allege that Sam Bankman-Fried built a house of cards on a foundation of deception while telling investors that it was one of the safest buildings in crypto,” Gary Gensler, the SEC chair, said in a statement.
Until last month, Sam Bankman-Fried, known by his initials, SBF, was a billionaire and darling in the crypto space. His net worth, which soared to $26 billion in March, was completely wiped out last month,Bankman-Fried, along with two FTX associates, gave $70 million during the U.S. midterm elections, according to opensecrets.org. That generosity has now come under scrutiny, with U.S.
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