Venture Capital
Both critics and proponents of crypto consider the nascent sector a Wild West, but the collapse of Sam Bankman-Fried's FTX has given new weight to the term. The ties between the pieces of his crypto empire — which included exchange FTX, hedge fund Alameda Research, and scores of smaller subsidiaries — remain complex. Since FTX's November 11 bankruptcy filing, new, bizarre details surrounding the shady finances continue to pop up. One SEC complaint said FTX told customers to wire money to a subsidiary that was a little-known fake online electronics retailer.

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