When I wrote last week about the collapse of crypto exchange FTX and the fall from grace of its founder and CEO, Sam Bankman-Fried (“Falling Meteorite FTX Scorches Crypto Landscape”), it was already apparent that this multibillion-dollar swindle would go down as one of the largest financial frauds in history. With its most recent valuation pegged at $32 billion, and as much as $10 billion in client funds misappropriated, the collapse and bankruptcy of FTX has turned into a bloodbath for the crypto industry. Contagion from FTX has clobbered prices, with Bitcoin and Ethereum each down over 20 percent. Investor fear is affecting other crypto exchanges, such as Gemini, which saw depositors withdraw more than $485 million in just 24 hours….
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