The game is up for Sam Bankman-Fried

Only a month has elapsed since Sam Bankman-Fried, the founder of ftx, a crypto exchange, placed the firm, along with Alameda Research, its sister hedge fund, into bankruptcy proceedings. The exchange was unable to meet customers’ withdrawal requests; the problem, it became clear, was that some $8bn of customer assets had ended up in the custody of Alameda, and were missing. In the intervening days Mr Bankman-Fried has given countless interviews in which he has apologised, appeared confused by the unravelling of his empire, pleaded ignorance and generally tried to shift the blame.