Could Bankman-fried's FTX Empire be worse?

“It could be worse.” The empire built by Mr. Bankman-Fried, who was once compared to titans of finance like John Pierpont Morgan and Warren Buffett, collapsed last week after a run on deposits left his crypto exchange, FTX, with an $8 billion shortfall, forcing the firm to file for bankruptcy.

Did Sam Bankman-fried's business empire collapse?

David Yaffe-Bellany and Matthew Goldstein have covered the collapse of Sam Bankman-Fried’s business empire. Three months before the cryptocurrency market imploded last year, Caroline Ellison, the 27-year-old chief executive of the crypto hedge fund Alameda Research, was racked with self-doubt.

Is Bankman-fried's collapse a Lehman moment?

Most of us missed them. Nervously awaiting the signs of contagion, some market veterans call the collapse of Bankman-Fried’s empire a “Lehman moment.” Indeed, there are similarities. But absent central banks and companies capable and willing enough to save the day, the industry will have to figure out a way to hold the ground on its own.

Did FTX founder Sam Bankman-fried lose faith?

After Bankman-Fried's rival, Binance CEO Changpeng Zhao, announced his plans to offload a substantial amount of a cryptocurrency FTX created, other investors panicked. Customers panicked after Binance Co-Founder and CEO Changpeng Zhao, one of FTX founder Sam Bankman-Fried's rivals, suggested he'd lost faith in a cryptocurrency FTX created.