Ethereum founder Vitalik Buterin is finally commenting on the demise of FTX, the exchange under the empire of Sam Bankman-Fried that recently collapsed.

Under Sam’s leadership, the exchange, which was only established in 2019, has quickly established its position as the exchange has quickly become a “monument” in the crypto industry. Even the legal regulations are handled by Sam and its affiliates, mostly around the world, with “smooth” operation.

So, compared to the case of Mt.Gox or Luna, FTX was “praised” by Buterin for FTX’s efforts.

At the conclusion of a turbulent week for the cryptocurrency market, which culminated with FTX filing for Chapter 11 bankruptcy protection and the resignation of Bankman-Fried as its CEO, Buterin made these remarks. The current wealth of one of the most famous crypto billionaires, Sam Bankman-Fried, has also become zero.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

CoinCu News

FTX

LUNA

mt.gox

Sam Bankman-Fried

Vitalik Buterin

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Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.

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News

Vitalik Buterin: ‘The Second Kind Of Fraud Cuts Deeper Than The First’

Ethereum founder Vitalik Buterin is finally commenting on the demise of FTX, the exchange under the empire of Sam Bankman-Fried that recently collapsed.

Under Sam’s leadership, the exchange, which was only established in 2019, has quickly established its position as the exchange has quickly become a “monument” in the crypto industry. Even the legal regulations are handled by Sam and its affiliates, mostly around the world, with “smooth” operation.

So, compared to the case of Mt.Gox or Luna, FTX was “praised” by Buterin for FTX’s efforts.

MtGox "looked" sketchy and never tried too hard to whitewash itself. Luna too. FTX was the opposite and did full-on compliance virtue signaling (not the same thing as compliance)

The second kind of fraud cuts deeper than the first.

— vitalik.eth (@VitalikButerin) November 11, 2022

At the conclusion of a turbulent week for the cryptocurrency market, which culminated with FTX filing for Chapter 11 bankruptcy protection and the resignation of Bankman-Fried as its CEO, Buterin made these remarks. The current wealth of one of the most famous crypto billionaires, Sam Bankman-Fried, has also become zero.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

CoinCu News

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