Defunct cryptocurrency exchange FTX has been facing significant financial challenges as it continues to incur astronomical legal and advisory fees, according to recent compensation filings. Between August and October, the exchange burned through approximately $53,000 every hour, accumulating over $118 million in fees during that period. This staggering amount translates to roughly $1.3 million per day. […]
Renowned biographer Michael Lewis has unveiled mismanagement allegations against crypto tycoon Sam Bankman-Fried, who is currently facing fraud charges. Lewis, known for chronicling Wall Street’s past misdeeds, exposed a series of financial discrepancies within Bankman-Fried’s empire, casting a shadow of doubt on the cryptocurrency industry. Sam Bankman-Fried’s Billion-Dollar Rounding Error The Department of Justice has […]