The Latest Breaking News from Sam Bankman-Fried

Swiftly rising interest rates have punctured the cryptocurrency bubble, exposing fragility, bad governance and even fraud in many corners, most notably at the crypto exchange FTX. And FTX's spectacular collapse comes on the heels of other recent failures in the cryptosphere, such as Terra-Luna, Three Arrows Capital or Voyager Digital.…

"I had a responsibility here and a responsibility to be on top of what was going on the exchange. I wish I had done much better at that."

By the time his bank account hit zero, the man who insisted he would one day be the "world's first trillionaire" had left only a trail of destruction in his wake.

Alexander Pack of Hack.VC told Fortune about the warning signs he saw in SBF and his quant firm Alameda Research years ago.

The cryptocurrency giant pledged at least $1 million to help provide universal basic income to help people get back on their feet after time behind bars. Now, it has filed for bankruptcy without delivering most of the grant.

Billions of dollars of customer money is missing, investigators are circling, and the 30-year-old ex-CEO admits his company broke its own rules.

Commodity Futures Trading Commission Chairman Rostin Behnam urged senators to strengthen conflict of interest and financial disclosure provisions for cryptocurrency entities in a key piece of legislation in light of the collapse of the FTX exchange.

BlockFi is the latest crypto company to fall as the sector continues to feel the pain of the FTX bankruptcy.

The founder of the cryptocurrency exchange gives his version of the facts and denies any intention to scam customers.