Coinbase’s Director of Product Strategy & Business Operations and On-chain Sleuth Conor Grogan recently highlighted some of Sam Bankman-Fried’s (SBF) lesser-known activities. These were primarily on-chain transactions that the FTX founder carried out, but they were never brought to light during his trial.
How Sam Bankman-Fried On-Chain Transactions Harmed Crypto
Grogan revealed in an X (formerly Twitter) post that Bankman-Fried, through Alameda Research, sold $75 million of staked ETH (stETH) in January 2022. This led to a massive depeg event, which triggered the bank run on bankrupt crypto lender Celsius. That was also the tail event that brought about the collapse of the bankrupt crypto hedge fund Three Arrows Capital (3AC).
Bankman-Fried is also said to have used FTX customer funds to purchase a bunch of non-fungible tokens (NFTs) that didn’t necessarily have any utility, including CarolineDAO NFTs. CarolineDAO proudly claimed to be “SimpDAO for Caroline E
We współpracy z: https://bitcoinist.com/sam-bankman-fried-activities/
