Sherry-Lehmann Wines & Spirits failed to deliver more than $1 million of wine to customers who paid in advance, he wrote. One of those customers was the reporter himself.
In a discussion with Andrew Ross Sorkin of The New York Times, Sam Bankman-Fried blamed “huge management failures” and sloppy accounting for the collapse of the FTX cryptocurrency exchange.
After flying under the radar as academic experiments, the markets are facing close regulatory scrutiny. But they are worth preserving, our columnist says.