Is Bankman-fried the Bernie Madoff of the crypto World?

Now a month later, allegations about funds from investors in Bankman-Fried's hedge fund, Alameda Research, being commingled with funds from FTX investors continue to pour out. One crypto hedge fund manager with no exposure to FTX suggests Bankman-Fried could be the Bernie Madoff of the crypto world.

Is Bernie Madoff a poster boy for financial crime?

If there is a poster boy for financial crime, it is Bernie Madoff. Once a respected titan of Wall Street, Madoff’s web of lies came undone amid the 2008 financial crisis, when it was revealed that his popular investment fund had been a Ponzi scheme all along.

Could Bernie Madoff be a model for FTX bankruptcy?

FTX went bankrupt last month owing more than $3 billion to its top 50 creditors and having racked up losses that exceeded $8 billion. Many commentators have pointed to the case of Bernie Madoff, the poster child for Ponzi schemers, as a model for how FTX’s new C.E.O., John Ray III, and a bankruptcy court might collect assets to repay depositors.