They jailed (gaoled) that merkin from FTXS today for 25 years. I was thinking; how the f**k can you be worth 25 billion and then f**k it up ? Good article below with timelines.
The answer is that he was a rank amateur in charge of a f**k tonne of cash, was borrowing to rapidly expand and got caught out in his own industry fluctuations. Did he employ a CFO or was he not brave enough to take conservative advice from his CFO ? He has 25 years to think about it.
Not gunna lie, kimchi trading or whatever they called it, seems to be a merkin of a way to get rich.