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.

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.

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