In November 2022, FTX, then one of the world’s largest crypto exchanges, collapsed. The company filed for bankruptcy, and criminal cases were opened against its former CEO, Sam Bankman-Fried. He was later convicted of fraud and conspiracy and is set to be sentenced today. But in the aftermath of the collapse, the lawyers and advisers running FTX’s bankruptcy explored the possibility of rebooting the company. WSJ reporter Alexander Osipovich tells host Alex Ossola why that reboot didn’t happen—and why some people say that’s a missed opportunity.
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