The cryptocurrency crash may affect a lot of people


The FTX scandal is going down and it’s pulling down a lot of people along with it. FTX founder and CEO Sam Bankman-Fried misused investors' money and now could be facing jail time and a federal investigation.


Billions of dollars is on the line and investors may never see their money again. FTX has filed for bankruptcy and the company may try to get away from being financially responsible for investors’ losses.


“I think we should be trying to get as much value to users as possible. I hate what happened and deeply wish that I had been more careful,” Bankman-Fried told CNBC.


Bankman-Fried also maintained that there are “billions” of dollars in customer assets in jurisdictions “where there were segregated balances,” including in the U.S., and said “there are billions of dollars of potential funding opportunities out there” to make customers whole.


The company is going under and it is taking a lot of investors along with it.


Be the first to comment!

You must login to comment

Related Posts