THERE IS NO single cause of the fall of Sam Bankman-Fried, who was arrested in mid-December at his home in the Bahamas on charges of wire fraud and conspiracy. But it would be hard to overstate the importance of the revelatory work by CoinDesk, an outlet of hard-core financial reporters that was the first to publish indisputable proof SBF's crypto empire was on shaky ground.
On November 2, reporter Ian Allison broke the news that SBF's formidable hedge fund, Alameda Research, was secretly propping up the crypto exchange FTX, the wellspring of his wealth and influence.
This story is from the December 19, 2022 - January 01, 2023 edition of New York magazine.
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This story is from the December 19, 2022 - January 01, 2023 edition of New York magazine.
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