This is a part of "Faces of Crypto World "
As in any environment, especially when big money come into question, some very nasty guys could appear, I'd like to introduce some of them (though I belive many of them are preety well know by you)
At least, this one is known for sure.
Scumbag No.1
Sam Bankman-Fried 
Founder and CEO of Alameda Research and FTX
Sam Bankman-Fried was born in 1992, Stanford, California.
After finishing his physics degree at MIT in 2014, Bankman-Fried spent three years as a trader at the quantitative trading firm Jane Street Capital before founding his own trading firm and liquidity provider, Alameda Research, in 2017.
In 2019he founded the cryptocurrency and derivatives exchange FTX, which has grown quickly to become the sixth-largest exchange by volume.
In 2020,he decided to try his luck eith DEFI market and built his decentralized exchange, Serum, on Solana and launched its namesake token in August.
Bankman-Fried was named to Forbes’ 2021 ”30 Under 30” list in the category of finance, emphasizing his contribute in the crypto industry.
Seems impresive... but our dear Sam has also much darker side.
Bankman-Fried is believed by many to have played a big role in crashing the price of Yearn.finance’s YFI in October by shorting it. He was also unexpectedly handed control of SushiSwap by Chef Nomi in September following the uproar over Chef Nomi selling 38,000 Ether and crashing the price of SUSHI.
But, its nothing in comparision to main event:
FTX exchange crash.
FTX collapsed in early November 2022 due to potential leverage and solvency concerns involving FTX-affiliated trading firm Alameda Research (according to Coindesk report)
I think the best presentation of following event I can put below:
FTX COLLAPSE TIMELINE—2022
(Found on: https://www.investopedia.com/what-went-wrong-with-ftx-6828447)
• Nov. 6: Rival exchange Binance sells all FTT tokens.
• Nov. 7: FTX announces liquidity crisis, seeks bailout from venture capitalists, then Binance.
• Nov. 8: Binance says it will buy FTX’s non-U.S. business.
• Nov. 9: Binance walks away from FTX acquisition after conducting due diligence.
• Nov. 10: The Bahamas freezes assets of FTX’s subsidiary there; Bankman-Fried admits non-U.S. businesses’ liquidity crisis, says affiliate Alameda Research to wind down.
• Nov. 11: Bankman-Fried steps down as FTX CEO, is replaced by a court-appointed CEO with restructuring experience. FTX files for Chapter 11 bankruptcy protection.
• Nov. 12: FTX reports an alleged hack, suspected to be up to $477 million, and moves its digital assets to cold storage for security reasons.
• Nov. 18: The Bahamas takes control of FTX assets held there.
• Dec. 12: Bankman-Fried is arrested by Bahamian authorities. He’s later extradited to the U.S.
• Dec. 22: Bankman-Fried is released on a $250 million bond, the largest in history, by a federal judge.
The list of Bankman-Fried's sins is preety long and it includes leveraging customer assets — specifically, customers’ personal cryptocurrency deposits — for Alameda’s own bets, or losing over $3.7 billion over its ( Alameda) lifetime, despite public statements by FTX leaders touting how profitable the trading arm was.
Well I was going to introduce more cunning scumbags living in crypto world, byt for today, it enought bad emotikon for me.
See you next time.
