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Crypto Pioneer Criticizes FTX CEO SBF for Damaging Industry Credibility

• FTX declared bankruptcy in the fall of 2020 after not having enough reserves to cover client withdrawals. • Emin Gün Sirer, CEO and founder of Ava Labs, believes that the damage done by Sam Bankman-Fried's actions is immeasurable as they have pushed the industry back. • Sam Bankman-Fried was arrested and charged with fraud and money laundering for suspected misappropriation of billions of dollars in client funds. Collapse of FTX Last autumn, FTX declared bankruptcy since it did not have sufficient reserves of client funds to satisfy withdrawals, damaging the credibility and trustworthiness of the young crypto industry. Ava...