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FTX's Wide-ranging Fraud

An emoji-fueled scam.

The WSJ has a devastating article describing FTX's wide-ranging fraud. It concludes with a quote from the firm's new CEO. Brutal.

While the FTX Group’s failure is novel in the unprecedented scale of harm it caused in a nascent industry, many of its root causes are familiar: hubris, incompetence, and greed.

The whole thing is worth reading, including additional investigative documents that can be found here.