The liquidity crisis that hobbled Sam Bankman-Fried's empire was at its heart a crisis of confidence. A breakdown of trust that wasn't unique to him or the crypto world alone. Long-Term Capital Management in 1998, Lehman Brothers in 2008. Remember them? They each in one way or another fell victim to vanishing liquidity spurred by a breakdown of trust from their counterparties and clients.
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Bankman-Fried Guilty
Former FTX co-founder Sam Bankman-Fried has been found guilty of defrauding investors and customers.