FTX collapse wreaks market havoc
Bahamas
Sam Bankman-Fried , former CEO and founder of the FTX crypto exchange , faces eight criminal charges in the US , including wire fraud , money laundering and conspiracy to defraud . He also faces civil charges including misleading investors who put more than $ 1bn into the company .
FTX saw customers clamour to withdraw massive funds and has left many investors unable to access their deposits in the exchange .
The company ’ s collapse has shaken the cryptocurrency market to its core : it ’ s already sparked international regulatory inquiries and a
lawsuit against both the company and the celebrities who promoted it , including Larry David , Naomi Osaka , Gisele Bündchen , and Shaquille O ’ Neal .
Sam Bankman-Fried ©