https://apnews.com/article/sam-bankmanfried-cryptocurrency-ftx-388b80dc097d64ea8aa0d5134babdb11

NEW YORK (AP) — Sam Bankman-Fried co-founded the FTX crypto exchange in 2019 and quickly built it into the world's second most popular place to trade digital currency. It collapsed almost as quickly. By the fall of 2022, it was bankrupt.

Prosecutors soon charged Bankman-Fried with misappropriating billions of dollars in FTX customer deposits. They said he used the money to prop up his hedge fund, buy real estate, and attempt to influence cryptocurrency regulation by making campaign contributions to U.S. politicians and pay $150 million in bribes to Chinese government officials.