How a CoinDesk scoop led to the fall of Sam Bankman-Fried and implosion of FTX | CNN Business

The staggering level of apparent deception staged by former crypto king Sam Bankman-Fried wasn’t uncovered by government investigators or a major powerhouse financial news organization, such as The Wall Street Journal.

Instead, the public’s first glimpse of the alleged wrongdoing by Bankman-Fried — known to insiders as SBF — came earlier this month from a small news site unknown to much of the public that has spent years chronicling the turbulent and murky world of crypto: CoinDesk.

In fact, the reporter and editor duo who worked to break the story, which prompted a stunning cascade of events that led to the evaporation of billions of dollars, didn’t realize the scoop they had on their hands when they first obtained a document that cast tremendous doubt on the stability of SBF’s crypto empire.

“Hi Nick,” reporter Ian Allison emailed editor Nick Baker about his initial story plan, according to a copy of the message provided to me, “I’m looking at some stuff to do with Alameda if you want to chat this week, no mad rush.”

Source: How a CoinDesk scoop led to the fall of Sam Bankman-Fried and implosion of FTX | CNN Business