Crypto Exchange Giant Implodes, CEO Faces Serious Charges

Bullet Points
• Prices for Bitcoin remained largely frozen near the levels they held for the past week.
• CoinDesk’s Chief Insights Columnist David Z. Morris wrote about the seriousness of crypto exchange giant FTX CEO Sam Bankman-Fried’s offenses.
• Catch the latest episodes of CoinDesk TV for insightful interviews with crypto industry leaders and analysis.

Cryptocurrency prices remained largely frozen on Tuesday, with Bitcoin drifting lower but not by much. The largest cryptocurrency by market capitalization was recently changing hands at $16,700, off 1.3% over the past 24 hours but near its most recent support just under $17,000. BTC’s price has remained resilient over the past two months, despite the widely-reported market turbulence.

As the year nears its end, CoinDesk is revisiting some of the most impactful stories from the past year. One such story was the implosion of crypto exchange giant FTX, which less than a month after a CoinDesk story led to the investigation of its CEO Sam Bankman-Fried. The U.S. Department of Justice subsequently charged Bankman-Fried with wire fraud and other alleged crimes. After posting bail, he is confined to his parents California home except to exercise, and must wear a tracking device.

To keep up with the latest news and insights from the crypto world, be sure to check out CoinDesk TV for insightful interviews with crypto industry leaders and analysis. Sign up for First Mover, CoinDesk’s daily newsletter, for the latest moves in crypto markets in context.

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