This week in the United States, millions of people comprising various political and financial backgrounds are traveling to see family members for the first time in months to celebrate Thanksgiving.
For crypto-minded individuals, questions about the market may come as quickly as “Why did you cut your hair?” or “Why didn’t you become a doctor?” — especially given the very public collapse of major exchange FTX and soured reputation of its former CEO, Sam Bankman-Fried. The Cointelegraph team has put together a humorous “how to” guide for U.S. readers to reference when interacting with crypto skeptics and curious people while at home, though hodlers in other countries may find a few helpful tips as well.
Despite all the three-letter acronyms they’ve heard on the news, family members might have a difficult time believing that the former CEO of FTX is not, in fact, a ticker symbol — though someone did launch an SBF Goes to Prison (SBFP) token on Nov. 21 that has fared slightly better than the exchange and its leadership, dropping more than 66% in price. “SBF” stands for “Sam Bankman-Fried,” who led the now infamous FTX to become one of the most prominent companies in the crypto space before its bankruptcy.
Bankman-Fried resigned on Nov. 11, the same day FTX filed for bankruptcy. He currently resides in the Bahamas, and there has been no shortage of stories and rumors about the former executive and his relationship with staff. SBF might be extradited to the United States to face questioning by government officials and potential criminal charges.
Many in the crypto space and beyond have suggested that the nonfungible token, or NFT, market is in a bubble, but use cases for the technology go far beyond projects like Bored Ape YachtRead more on cointelegraph.com