Crypto Crisis: Elon Musk Calls FTX’s Bankman-Fried “Bullsh-t”


How did 30-year-old Sam Bankman-Fried manage to make his cryptocurrency empire look solid, if not the most financially sound firm in the fledgling cryptocurrency industry?

The question has haunted the industry and the business community since FTX, one of the largest cryptocurrency exchanges, imploded on November 8, urgently requesting the help of its great rival Binance to try to honor its obligations.

But the situation was so dire, that Binance finally gave up on helping, after a closer look at FTX’s books and the suspicion of potentially illicit practices.