You’ve probably seen the name Sam Bankman-Fried in headlines this week. While the scandal involving his crypto company FTX is convoluted, here are the basics you should know about the mega Democrat donor and his multibillion-dollar scam operation.
Bankman-Fried was the CEO of FTX, a cryptocurrency exchange based out of the Bahamas. On Nov. 8, Bankman-Fried announced on Twitter that the FTX exchange had run out of money to process the uptick in customer withdrawal requests. FTX immediately halted customer withdrawals and the result was a $10 billion hole as millions of cryptocurrency investors were left with frozen trading accounts
