From: The costs count

Sam Bankman-Fried’s empire plummeted from $32 billion to bankruptcy.

FTX is considered one of the safest and most reliable exchanges of a free-roaming cryptocurrency industry, which aims to bring tokens into the financial mainstream.

But Sam Bankman-Fried’s $32 billion empire collapsed almost overnight, highlighting the extreme volatility of virtual currencies. Its demise has sent shockwaves through the market and raised questions about its viability.

He has apologized, but that hasn’t helped the more than a million creditors who may now be out of pocket.

Elsewhere, we ask why tech companies lay off employees.

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By wy9m6

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