What Does FTX’s Downfall Mean for the Crypto Industry?

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LONDON, ENGLAND - NOVEMBER 10: In this photo illustration a notice warning against deposits, and that FTX is currently unable to process withdrawals, is displayed on a screen on November 10, 2022 in London, England. (Photo Illustration by Leon Neal/Getty Images)

In less than a month, crypto-billionaire Sam Bankman-Fried went from industry leader to pariah. His cryptocurrency exchange FTX has filed for bankruptcy, with the filings listing more than one million creditors impacted. The formerly $32 billion dollar company is now the target of investigations by the Securities and Exchange Commission and Justice Department; Bankman-Fried is facing public scrutiny amid allegations of fraud. We’ll talk about the allegations against Bankman-Fried, where the crypto market stands and what we can learn from this moment.

Guests:

Margaret O'Mara, historian of the modern United States, University of Washington

Hilary Allen, professor of law, American University

David Gura, reporter, NPR's business desk

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