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FTX The League Of Legends: The Biggest Ponzi scheme in the cryptocurrency markets
In the book ‘The League of Legends,’ I analyze the intricate case of FTX’s collapse, meticulously orchestrated by its founder, Sam Bankman-Fried (SBF). SBF succeeded in executing one of the most significant Ponzi schemes in the brief history of cryptocurrency financial markets. My exploration of this case began in 2022, where I immersed myself in gathering information and closely monitoring unfolding developments.
As the narrative unfolds, it becomes evident that Sam Bankman-Fried, following the contours of a classic Ponzi scheme, reached a critical juncture where he could no longer fulfill the repayment of billions of dollars in loans, primarily due to his mismanagement at FTX and Alameda Research.
My approach to this story transcends the boundaries of conventional finance and cryptocurrency expertise; I have embraced an investigative and sociological perspective to unveil aspects that may have eluded prior scrutiny.
The structure of this narrative takes on a unique form, resembling a series of episodes, each dedicated to different phases and key figures involved in this saga. This episodic segmentation aims to provide readers with an immersive and rhythmic…
