Game over for FTX
With Founder Facing Charges, New CEO Says FTX Embezzled Customer Cash
Sam Bankman-Fried is now a criminal defendant, and CEO John Ray III told lawmakers FTX embezzled customer funds "right in front of their eyes."
Discussion
Game over for FTX
It's hard to conceptualize $8 billion, but here's a helpful exercise. Imagine a professional sports team.
Imagine all the players on the team, the uniforms, the coaches, the concession stands, the merchandise, all the fans in the arena, and the fans watching from home. Imagine all the hope it signifies.
Now, imagine that team didn't exist. That's how big $8 billion is.
Hold your keys.