Will former FTX CEO Sam Bankman-Fried be held accountable for his mismanagement of investor funds?
After most of the entities tied to his cryptocurrency exchange became insolvent last week, blockchain analysts concluded the insolvencies came as a partial result of the exchange’s trading house, Alameda Research, burning through nearly $10 billion in cash that technically belonged to FTX customers. To date, the company has declined to elaborate on the contractual details that made the arrangement possible — or legal.
In the aftermath of FTX’s collapse, skeptics have questioned whether the elite — in Washington or elsewhere — will be motivated to investigate the situation with any rigor. Tesla, SpaceX and Twitter CEO Elon Musk suggested in a Nov. 13 tweet that he was among those critics, sharing