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How Sam Bankman-Fried fooled the crypto world and maybe even himself

The scandal has shocked the crypto players who giddily celebrated Bankman-Fried as the J.P. Morgan of their times and left them grasping for parallels

Photo: Bloomberg
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Samuel Bankman-Fried. Photo: Bloomberg

Annie Massa | Bloomberg
Before the world began to grasp the truth about Sam Bankman-Fried -- before the panic, the investigations and, at last, the brutal collapse -- an inkling of doom began to spread through his convoluted crypto empire. 
 
All across FTX, the exchange that had transformed his mere initials into a symbol of a new kind of wealth and power, one question came up again and again: Where is SBF?

Bankman-Fried, current and former employees say, seemed to have disappeared. Then, without explanation, a department nearly missed October payroll. Something was wrong.

Just how wrong is only now becoming blazingly clear. On Friday, after