Fried by the Bank Man

The future of investing in the summer of ’22.

The inside cover of The New Yorker, July 4, 2022.

At least he was right about having a big impact globally.

The next two pages of the July 4 issue.

Last summer I glanced at that magazine ad for half a second and, seeing the word “crypto,” ignored it. This was what the kid said at that time. Four months later he was out of business.

July 6 (Reuters) – Sam Bankman-Fried, head of one of the largest cryptocurrency exchanges, FTX, said he and his company still have a “few billion” on hand to shore up struggling firms that could further destabilize the digital asset industry, but that the worst of the liquidity crunch has likely passed.

https://www.reuters.com/technology/crypto-exchange-ftx-has-few-billion-support-industry-bankman-fried-2022-07-06/

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