NO CLE - Crypto, Demystified: Valuation, Restructuring, Regulation and Corporate Integrity

This session will discuss crypto asset and exchange valuation parameters and deal structures, and how investors and analysts alike were duped by FTX and its founder, Sam Bankman-Fried, to invest in his multibillion-dollar Ponzi scheme. SBF had painted himself as an industry saint, but he now acknowledges the firm's “massive failure of oversight of risk management.” The panelists will analyze 2022's largest crypto failures — FTX, BlockFi, Three Arrows Capital, Voyager Digital and Celsius Network — and will address their crypto asset valuation parameters, forensic data sources, trading models, likely stakeholder recoveries, failures of internal controls, current and likely future regulatory controls, and corporate integrity and governance protocols in order to understand how these virtual currencies rose and subsequently collapsed.