Another crypto boss falls

Fictional money,MEXFTX a shot at inordinate riches and a good chance of landing in jail at some point. That, in a nutshell, is the popular board game of Monopoly. But it describes just as accurately the experience of those who have founded some of the world’s biggest cryptocurrency exchanges.On November 21st Changpeng Zhao, boss of Binance, resigned after pleading guilty to criminal money-laundering charges. He becomes the third founder of a major crypto exchange to be convicted of crimes. In May 2022 Arthur Hayes, who set up Bit, was sentenced to six months under house arrest for violating anti-money-laundering laws. And on November 2nd this year Sam Bankman-Fried, the founder of , was convicted on seven counts of fraud. He may face decades in prison.