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Behind Sam Bankman-Fried’s Cryptocurrency Crash

Thirty-year-old “wonder boy” Sam Bankman-Fried (often called SBF) was, at $21 billion, among the richest men on earth. Until a month ago, he was CEO of the second-largest cryptocurrency exchange in the world, FTX—valued at $32 billion. On the cover of Forbes and Fortune magazines, he was touted as a financial genius akin to Berkshire Hathaway’s billionaire financier, industrial magnate, and “philanthropist” Warren Buffett. But SBF’s FTX filed for bankruptcy in early November. A competitor, CoinDesk, apparently hacked its financial balance sheet and made it public, revealing grave discrepancies between FTX’s claimed worth and the reality of its investment portfolio. All hell broke lose as investors ran for the hills. In a matter of days most of FTX’s $32 billion evaporated.

Contact Tracing or How governments try to justify the expansion of their spying powers

by Kurt Young In the 2010’s a new technology called Near Field Communication (NFC) rolled out for public use. This is the technology behind the tapping feature of credit and debit cards. Many privacy advocates believed this technology would be…

The facts on Climate Change Demand A Radical Solution

by Evan Engering The latest book of Naomi Klein, the influential Toronto-based journalist, author and activist, may live up to its ambitious title “This Changes Everything”. In it, Klein turns her thorough, eye-opening brand of investigative journalism to the topic…