Sam Bankman-Fried, the fallen wonderboy of crypto

But the stunning rise of Sam Bankman-Fried and his FTX platform would be matched by an equally spectacular fall, after it was revealed that billions of dollars of clients' funds had been moved and spent without their consent.

In the span of a few months, the Massachusetts Institute of Technology graduate with a degree in physics had taken the startup he co-founded in 2019 and built it up into the world's second largest crypto exchange platform. The young man known as SBF would charm US politicians with his straight talk and vision of crypto's future, including an extensive regulatory regime - a position at odds with many in the sector.

"We take our duty seriously to protect the digital asset ecosystem and its customers," he tweeted at the time, as some people were comparing him - barely 30 years old then - to the legendary investing guru Warren Buffett. Hours later Changpeng Zhao, the head of Binance, the world's largest crypto exchange platform, announced it was selling all the FTT tokens it held, causing it to lose 90% of its value in a matter of days and taking the Bankman-Fried empire with it.

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