The name Sam Bankman-Fried has been in the news in recent weeks. Bankman-Fried, founder and former CEO of the crypto exchange FTX – one of the largest platforms for trading and storing crypto assets – saw his empire suddenly collapse. After a classic bank run that led to an acute liquidity shortage, and a short-lived hope of a takeover by rival Binance, FTX had to file for Chapter 11 bankruptcy protection on November 11.
In this contribution, published in the Tijdschrift voor Financieel Recht, Emanuel van Praag and Jeroen Postma discuss how this empire that was built up in record time fell even faster and what lessons can be learned from this with regard to (defective) regulations. Read the entire article (in Dutch) via the button below.
