New York CNN Business —
In the space of a week, a 30-year-old entrepreneur once hailed as a modern-day J.P. Morgan watched his digital empire, including billions of his own fortune, evaporate in a death spiral that’s shaken the foundations of the trillion-dollar crypto industry.
On Thursday, Sam Bankman-Fried issued a mea culpa: “I f**ked up,” he wrote in a lengthy Twitter thread, apologizing to investors and customers of FTX, the exchange platform he founded in 2019. By Friday morning, FTX said Bankman-Fried had resigned as CEO and that the firm was filing for bankruptcy.
Source: edition.cnn.com
