Archive: financial scandals
Angel Insider: Investing Lessons From the FTX Disaster
By Early Investing on November 29, 2022
The FTX disaster is still getting top billing in the financial press these days. The crypto exchange — which was backed by major venture capital (VC) investors — collapsed after news broke that founder Sam Bankman-Fried had been secretly moving customer money to his trading firm and blowing it on bad investments. Now thousands of FTX customers are terrified they won’t get their money back. The bankrupt crypto exchange and its now disgraced founder are invoking…