‘I Knew What I Was Doing Was Wrong,’ Says FTX Co-Founder

The situation is getting worse for Sam Bankman-Fried, whose crypto empire went bankrupt just days after being at the center of the crypto sphere. 

The regulators, who are trying to piece together what happened, and especially how the FTX cryptocurrency exchange, which was valued at $32 billion in February, could implode overnight. 

In addition to FTX, Bankman-Fried, known by the initials SBF, also founded Alameda Research, a hedge fund that also served as a trading platform for cryptocurrencies and other crypto-related financial products for institutional investors.

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