The fall of FTX and Sam Bankman-Fried revealed holes in the crypto space that industry peers, the media, and government officials either chose to overlook or refused to question further. Underneath FTX’s successful veneer was a fragile ecosystem led by young, ambitious founders determined to move mountains under the guise of Effective Altruism - an academic and social movement geared around maximizing wealth redistribution.
But as Bankman-Fried’s operation continues to unravel and more damaging information comes to light - what is in store for the future of cryptocurrency, and is the loss in public trust irreversible?
