The FTX scandal has sent (and is continuing to send) shockwaves through the  cryptocurrency industry.  FTX was one of the largest crypto exchanges in the world, and its CEO, Sam Bankman-Fried (SBF) was the darling of Silicon Valley and Wall Street. 

SBF touted FTX for its rapid growth as a crypto exchange and its deep connections to politicians, athletes and movie stars.  It turned out to all be a fraud.  SBF is now regarded as the “Bernie Madoff” of the crypto industry as he and his cohorts pilfered FTX money for lavish and personal enjoyment.

Matt Stankiewicz, a Partner at The Volkov Law Group, joins Mike Volkov for a discussion on the scandal, its implications for the crypto industry and the utter compliance failure.