![](https://images.jacobinmag.com/wp-content/uploads/2022/11/28114237/GettyImages-1244996146-420x315.jpg)
After Sam Bankman-Fried’s Downfall, the Entire Crypto Fantasy Is Rapidly Unraveling
The next time a speculative bubble is massively inflating around a fancy new asset like cryptocurrency and financial carnival barkers are screaming it will change everything, remember Sam Bankman-Fried and how quickly all of his promises proved to be bullshit.