“Sam Bankman-Fried’s $32 billion crypto empire......”
Much larger than I thought. He was king of the kryptos until it went Kaput.
“Much larger than I thought.”
most of those billions were fake valuations of fake crypto “assets”, achieved via pump and dump and wash trading schemes that are totally illegal in regulated financial domains ... the biggest fake of them all was FTX’s inhouse, FTT crypto “token” valued at one time in the many billions and now completely worthless, which was its true value all along ...
reliable estimates indicate that total claimed valuations of ALL crypto consists of no more 10-15% of ACTUAL currencies that have ACTUAL utility value such as the U.S.dollar, the Euro, UK pound, et. al., almost all of which was injected into the system by the marks ...