“I think there’s a very open and shut case for fraud.” That was Coinbase CEO and founder Brian Armstrong talking about former FTX CEO Sam Bankman-Fried at a crypto founder summit.
That was Coinbase COIN, -3.82% CEO and founder Brian Armstrong talking about former FTX CEO Sam Bankman-Fried at the a16z crypto Founder Summit last week.
FTX collapsed and later filed for Chapter 11 bankruptcy protection after struggling with liquidity issues in November. Bankman-Fried has been criticized by many people over his role in FTX’s collapse and has admitted he “misaccounted” $8 billion in FTX funds. See: Bill Ackman says he sees why FTX victims want Sam Bankman-Fried to ‘suffer’ severe consequences ‘including jail time’MarketWatch’s Lukas Alpert detailed the legal challenges that Bankman-Fried is facing here.
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