The Week in Business: The FTX Founder’s Rapid Fall

What’s Up? (Dec. 11-17)Criminal Charges for Sam Bankman-Fried

Sam Bankman-Fried, the founder of the failed cryptocurrency exchange FTX, was expected to appear before the House Committee on Financial Services last Tuesday — one of the many efforts to investigate the exchange’s collapse. But the day before, he was arrested in the Bahamas after U.S. prosecutors filed criminal charges. He faces eight counts, which include several fraud charges and conspiring to defraud the United States and violate campaign finance laws. Separately, the Securities and Exchange Commission filed civil charges, accusing Mr. Bankman-Fried of misleading investors who committed some $2 billion to FTX, among other charges. It was not long ago that the voluble crypto mogul was discussing his role in the downfall of FTX with reporters at The New York Times and elsewhere.

Musk and Twitter

It began with private planes. Last week,…

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