Money Talks: The cryptocalypse

Until last week, Sam Bankman-Fried - or SBF as he’s become known - was crypto’s poster-child. He was a regular in Washington, DC where he schmoozed journalists, regulators and lawmakers alike. He funded political campaigns and sponsored sports teams ranging from basketball to Formula One. For many, the floppy-haired, 30-year-old once-billionaire wasn’t just the face of his crypto trading firm FTX, he was the face of crypto. But last week, SBJ’s business, which was valued at $32bn at the start of the year, collapsed into bankruptcy and now he is being investigated by regulators and law-enforcement agencies.

On this week’s “Money Talks’, hosts Alice Fulwood and Soumaya Keynes ask whether the crypto phenomenon can survive the loss of a figurehead. They speak with Alesia Haas, the CFO of the second-largest exchange Coinbase. And hear from some of the recipients of SBF’s contributions to the effective altruism movement about what’s next.

Sign up for our new weekly newsletter dissecting the big themes in markets, business and the economy at www.economist.com/moneytalks  For full access to print, digital and audio editions, subscribe to The Economist at www.economist.com/podcastoffer Hosted on Acast. See acast.com/privacy for more information.