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☆ He’s Lost His Marriage, His Followers and His Lamborghini
▼ + stars: | 2024-02-02 | by ( David Yaffe-Bellany | ) www.nytimes.com time to read: +1 min

With its streamlined curves and glow-in-the-dark sound system, the silver Lamborghini Huracán Performante was the stuff of teenage fantasy: $350,000 of aerodynamic metals and lightweight upholstery, packed into a taut and powerful body. When he started shopping for a Lamborghini, Mr. Armstrong, a cryptocurrency evangelist with more than one million YouTube subscribers, worried that he’d have to spend months searching. “I think I have to go to Italy to get the Lambo I want,” he texted a business partner. In the fall of 2021, a car dealership in Charlotte, N.C., shipped the Huracán to Mr. Armstrong’s production studio in an Atlanta suburb. As the Lamborghini was lowered from a delivery truck, Mr. Armstrong, better known by the nom de crypto BitBoy, let out a joyful laugh.

Persons: Huracán Performante, Ben Armstrong, Armstrong, “, Lamborghini, ” Organizations: Lamborghini Locations: Italy, Charlotte, N.C, Atlanta

☆ Before his epic fall, Sam Bankman-Fried was hailed as a crypto genius. Some clients saw smoke and mirrors.
▼ + stars: | 2022-11-11 | by ( Gretchen Morgenson | Gretchen Morgenson Is The Senior Financial Reporter For The Nbc News Investigative Unit. A Former Stockbroker | She Won The Pulitzer Prize In For Her | ) www.nbcnews.com time to read: +14 min

Until a few days ago, Sam Bankman-Fried was the king of crypto. “I’m sorry I didn’t do better,” Bankman-Fried said Tuesday in a message to investors reviewed by NBC News. The contentions of the people who spoke with NBC News are echoed in a 2019 lawsuit brought in federal court against FTX Alameda, Bankman-Fried and other executives. But the crypto market does not have the protections or price transparency found in listed stock markets, for example. FTX and Alameda, as a major crypto exchange and market maker, attracted crypto developers to list their projects for trading.

☆ YouTubers are pushing dodgy crypto investment advice. Here’s why you should ignore it.
▼ + stars: | 2022-09-26 | by ( Rob Price | Meghan Morris | ) www.businessinsider.com time to read: +15 min

Together, these revenue streams mean cryptocurrency influencers profit off their viewers no matter which way the market turns. Of course, crypto YouTube is a far cry from the regulated world of traditional finance. Armstrong told the Post that he made "maybe close to a million" from before dropping sponsored content in January 2022. A price list leaked by ZachXBT appears to show that dozens of small crypto influencers also have menus for similar undisclosed deals. But with little regulatory oversight, crypto influencers show little sign of slowing down — despite the precipitous decline of the crypto market.

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