The AFR View

FTX: from cover boy to wanted poster?

The story here might be about old-fashioned financial fraud rather than any inherent unravelling of the underlying technology.

Nov 14, 2022 – 6.37pm

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From cover boy to wanted poster may now be the career trajectory for Sam Bankman-Fried, founder and former chief executive of failed crypto exchange FTX.

He was billed as the globe’s richest young person worth an estimated $US25 billion ($37 billion), and the cover story of last month’s Young Rich issue of The Australian Financial Review Magazine featured the 30-year-old wunderkind’s efforts to stand against the global “crypto winter” by injecting cash or extending lines of credits to shore up faltering digital moneylenders.

The Australian Financial Review’s succinct take on the principles at stake in major domestic and global stories – and what policy makers should do about them.