Crypto’s last man standing
Is Sam Bankman-Fried the John Pierpont Morgan of crypto?
Two years ago scarcely anyone in mainstream finance had heard of Sam Bankman-Fried, or ftx, the cryptocurrency exchange he launched in 2019. Both gained greater prominence, first as the crypto craze reached fever pitch and then as crypto fell to Earth. Mr Bankman-Fried (widely known as sbf) has lately been at the centre of attempts to rescue beleaguered crypto firms. To some observers, the role calls to mind the rescue missions organised by John Pierpont Morgan and America’s other banking scions in the early 20th century. The comparison is surprisingly instructive.
This article appeared in the Finance & economics section of the print edition under the headline “Last man standing”
Finance & economics July 9th 2022
- America rethinks its strategy for taking on China’s economy
- Do cheaper commodities herald a recession?
- What a tycoon’s trial says about the rot in China’s financial system
- Crypto’s last man standing
- As interest rates climb and the economy cools, can companies pay their debts?
- Are central banks in emerging markets now less of a slave to the Fed?
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