Will the craze for crypto startups ever produce the next tech giant?
As big investors weigh in, valuations are reaching the stratosphere
THE HONG KONG office of FTX, a cryptocurrency exchange, is a place where basic needs come second to business. Food and booze lie around desks fitted with six screens each. Sam Bankman-Fried, its boss, says he sleeps four hours a night on a bean bag next to his desk—if he’s lucky. He sees little difference between breakfast and dinner, apart from “which restaurants are open for delivery”.
This article appeared in the Finance & economics section of the print edition under the headline “The bitcom boom”
Finance & economics November 13th 2021
- China attempts to clean up its sleaziest regional banks
- Will the craze for crypto startups ever produce the next tech giant?
- A three-decade high in inflation sows concerns about America’s recovery
- Belize shows the growing potential of debt-for-nature swaps
- Cash is a low-yielding asset but has other virtues
- A whodunnit on Zillow
From the November 13th 2021 edition
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