Bankman-Fried’s Latest Crypto Advice Rings Hollow After FTX Failures

After his bankrupt crypto exchange blocked funds from what is likely millions of customers, Sam Bankman-Fried had some new advice for investors they probably wish they had heard sooner: put your money on an exchange that doesn’t. does not do business like FTX.

During a keynote at the New York Times DealBook Summit on Wednesday, Bankman-Fried said crypto investors should be looking for “all the things I wish FTX could provide.” He said proof of reserves and regulatory reports that include metrics like client assets and liabilities are all investors should look for when choosing an exchange.