The Rise and Fall of SAM Coins

Following the implosion of the crypto exchange, FTX, and its filing of chapter 11 bankruptcy protection, SBF’s series of projects and tokens known as “SAM Coins” fell significantly. Developers now hurry to fork his Serum (SRM) project and exchanges race to block deposits of FTX Token (FTT).

  • FTX exchange has filed for chapter 11 bankruptcy protection after the collapse.
  • SBF’s series of projects and tokens known as “SAM Coins” sharply decline.
  • $659 million hack on FTX’s crypto wallets following bankruptcy announcement.
  • Developers forked SBF’s Serum after discovering the Key may be compromised.
  • Exchanges Binance and Huobi Global restrict deposits of FTT on their platforms.

Over the past year and before the collapse of the massive cryptocurrency exchange FTX, which he founded, arguably no other individual had become more influential or impactful on cryptocurrency and the industry's future than Sam Bankman-Fried. SBF identified a unique arbitrage opportunity in the Asian markets and built its empire on top of it. The …

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