NPR investigated a crypto scam company known as SpireBit, which stole hundreds of thousands of dollars from Russian-speaking seniors. Now, some of the victims are getting their money back after a lawsuit by Massachusetts authorities.
Sam Bankman-Fried faces seven criminal charges, including for defrauding investors. His blockbuster trial is set to begin on Tuesday, and he could face an over 100-year prison term if convicted.
A review found that the exchange's compliance program violated state laws, making it "vulnerable to serious criminal conduct." It will pay a $50 million fine and spend the rest beefing up oversight.
BlockFi was one of the companies that FTX bailed out in recent months. Now it's a clear sign that contagion from FTX's collapse is spreading throughout the crypto industry.
Many first-time investors bought Bitcoin and other cryptocurrencies as they neared all-time highs, and crypto companies spent millions on marketing. Today, they are coping with painful losses.