Do Kwon, a South Korean entrepreneur, hyped the Luna and TerraUSD cryptocurrencies. Their failures have devastated some traders, though not the investment firms that cashed out early.
Crypto boosters such as Matt Damon, Reese Witherspoon and Gwyneth Paltrow have been criticized for hyping virtual currency without highlighting the risks.
Sam Bankman-Fried is a studiously disheveled billionaire who made a fortune overseeing trades that are too risky for the U.S. market. Now he wants Washington to follow his lead.