Former Crypto billionaire and top Democratic donor Sam Bankman-Fried's FTX crypto market is facing a criminal investigation in the Bahamas, police announced Sunday.
D.A. Davidson director of research Gil Lauria and Duke Financial Economics Center policy director Lee Reiners debate the case for cryptocurrency as the FTX crisis continues to unfold on 'The Claman Countdown.'
FTX, co-founded by former crypto billionaire and top Democratic donor Sam Bankman-Fried, reported that roughly $1 billion indue to "unauthorized transactions." The company is based in the Bahamas and filed for bankruptcy last week, leading to an investigation from the country's securities commission, Bloomberg reported Sunday.
Bankman-Fried resigned as the FTX CEO last week in a letter that also filed for Chapter 11 bankruptcy. This illustration photo shows a smart phone screen displaying the logo of FTX, the crypto exchange platform, with a screen showing theFTX was the third-largest crypto market in the world at the start of last week when it announced liquidity problems and would need a massive infusion of cash to stay afloat.
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