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BBCNEWS World Business Report June 4, 2024 05:37:00

Ecosystem, for example kim kardashian was fined 1.6 million for promoting an ill fated coin. multiple massive cyber attacks on crypto currencies have also knocked confidence in the organisations with some interesting projects based on blockchain, the underlying technology that powers the crypto well. as the industry has taken a knock after knock, the companies that demand on there being a huge demand on there being a huge demand for crypto currencies have really struggled, many have really struggled, many have gone bankrupt. the icing on the case was the latest scandal involving ftx. that was used by millions to exchange their normal money for bitcoin or other tokens but it was revealed to be financially unstable. everything came crashing down injust a unstable. everything came crashing down in just a few days and now its founder, and the former king of crypto, sam bankman fried, is in custody, accused of fraudulently misusing customer funds. accused of fraudulently misusing customerfu ....

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BBCNEWS BBC News at One June 4, 2024 13:23:00

Fergus walsh, bbc news. the founder of the collapsed crypto currency exchange ftx, sam bankman fried, has been charged with defrauding customers of billions of dollars. ftx was the world s second largest crypto exchange allowing customers to buy and sell cryptocurrencies such as bitcoin. the us securities and exchange commission allege he misused funds belonging to its trading customers. joe tidy has more. sam bankman fried was the front man of his $32 billion ftx empire. nicknamed the king of crypto, he was one of the industry s biggest personalities. but since his empire collapsed leaving more than1 million customers out of pocket, he has faced numerous accusations of misusing customer funds. has faced numerous accusations of misusing customerfunds. now in custody in the bahamas, the us accuses him of, in their words, ....

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