It’s been a spectacular fall for Sam Bankman-Fried, who was arrested 10 months ago, going from running one of the world’s largest cryptocurrency exchanges, FTX, from his $30 million Bahamas penthouse, to now sitting in a jail in Brooklyn. TranscriptĭEBORAH BECKER: Two weeks from today, perhaps the most well-known cryptocurrency billionaire faces trial on fraud charges.
Excerpted by permission of Crown Currency, an imprint of Crown Publishing, a division of Penguin Random House LLC. Author of “ Number Go Up: Inside Crypto’s Wild Rise and Staggering Fall.”Įxcerpted from Number Go Up: Inside Crypto’s Wild Rise and Staggering Fall by Zeke Faux. Zeke Faux, investigative reporter for Bloomberg Businessweek. Today, On Point: Tales from the world of cryptocurrency and casino capitalism. $2 trillion in value wiped out last year. Now, crypto mogul Sam Bankman-Fried is expected to go to trial on fraud charges. “We had heard so many stories of people getting rich overnight on crypto that even like the craziest promises seemed kind of plausible,” Zeke Faux says.īut then came 2022 and the trillion-dollar crypto wipeout.
Just a couple of years ago, cryptocurrency seemed like an investment not to be missed:
