Sam Bankman-Fried’s Parents Were There for FTX’s Rise, and Now Its 

Sam Bankman-Fried’s Parents Were There for FTX’s Rise, and Now Its Fall

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Sam Bankman-Fried, the creator of the defunct exchange FTX, always distinguished apart

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from other cryptocurrency entrepreneurs, but not because of his preference for videogames or baggy shorts.

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In discussions with Washington policymakers, Mr. Bankman-Fried would mention

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that both of his parents were Stanford Law School professors. Even to those

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who were predisposed to see little value in the business, their reputations served as

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a stamp of approval for their son as he built his crypto empire.

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Last month, FTX went out of business due to reports that it had used consumer money to support

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a sibling trading firm. The business is going through bankruptcy court.

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Investigators include regulators and prosecutors. Customers are uncertain as to when

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they will receive their money returned. In the Bahamas, Mr. Bankman-Fried has since been detained.

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