The Power Vacuum at the Top of the Crypto Industry
The price of Bitcoin is surging again. Major financial firms are showing renewed interest in digital currencies. And crypto fanatics are celebrating the end of a long period of depressed prices and business collapses.But the sudden explosion of optimism has come at a turbulent moment for the cryptocurrency industry.The last time crypto prices were skyrocketing, the industry’s most influential executives were Sam Bankman-Fried and Changpeng Zhao, rival billionaires whose online sparring could move markets. Now Mr. Bankman-Fried, the founder of the FTX crypto exchange, and Mr. Zhao, who ran the world’s largest crypto firm, Binance, both face prison time after…
