These days, the founder of the crypto exchange FTX, Sam Bankman-Fried, has to answer in court in New York. The indictment accuses him of fraud, among other things, and if the jury finds him guilty, he could face decades behind bars. The collapse of its trading venue has not only hurt customers, but also the entire crypto industry, which has been considered shady by many since its inception.
Where does this come from – and is there more to it than just a prejudice? In the last episode »Crypto Basics« we look at the criticism of crypto and talk about drug hubs on the darknet, previous hacks and fraud cases. It is about digital currencies as a means of money laundering and sanctions evasion – as well as their current role in wars and conflicts.
According to United Nations officials, one-fifth of terrorist attacks worldwide are financed by crypto. How does a terrorist organization like Hamas use digital money? And can politicians get a grip on the misuse of digital currencies?
To listen to our series on Sam Bankman Fried and FTX, which reports on one of the most spectacular fraud cases in the financial world, subscribe to the podcast "Crypto Guru".
Click here for the other episodes.