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The FTX Collapse, Explained - WSJ What Went WrongThe man formerly nicknamed the "King Of Crypto" has seen his company collapse, stepped down as chief executive and now faces criminal investigation. Over the. Sam Bankman-Fried, who once ran one of the world's biggest cryptocurrency exchanges, has been found guilty of fraud and money laundering at. Sam Bankman-Fried Created a Crash for the Ages (He's now ) But this week, Bankman-Fried was found out to be less than the sum of all these.