id sid tid token lemma pos www-nytimes-com-4388 1 1 Crypto Crypto NNP www-nytimes-com-4388 1 2 Nomads nomad NNS www-nytimes-com-4388 1 3 : : : www-nytimes-com-4388 1 4 Surfing surf VBG www-nytimes-com-4388 1 5 the the DT www-nytimes-com-4388 1 6 World World NNP www-nytimes-com-4388 1 7 for for IN www-nytimes-com-4388 1 8 Risk Risk NNP www-nytimes-com-4388 1 9 and and CC www-nytimes-com-4388 1 10 Profit Profit NNP www-nytimes-com-4388 1 11 - - . www-nytimes-com-4388 1 12 The the DT www-nytimes-com-4388 1 13 New New NNP www-nytimes-com-4388 1 14 York York NNP www-nytimes-com-4388 1 15 Times Times NNP www-nytimes-com-4388 1 16 SectionsSEARCH sectionssearch CD www-nytimes-com-4388 1 17 Skip Skip NNP www-nytimes-com-4388 1 18 to to IN www-nytimes-com-4388 1 19 contentSkip contentSkip NNP www-nytimes-com-4388 1 20 to to TO www-nytimes-com-4388 1 21 site site VB www-nytimes-com-4388 1 22 index index NN www-nytimes-com-4388 1 23 Politics Politics NNP www-nytimes-com-4388 1 24 Today Today NNP www-nytimes-com-4388 1 25 ’s ’s NNP www-nytimes-com-4388 1 26 Paper Paper NNP www-nytimes-com-4388 1 27 Politics|Crypto Politics|Crypto NNP www-nytimes-com-4388 1 28 Nomads nomad NNS www-nytimes-com-4388 1 29 : : : www-nytimes-com-4388 1 30 Surfing surf VBG www-nytimes-com-4388 1 31 the the DT www-nytimes-com-4388 1 32 World World NNP www-nytimes-com-4388 1 33 for for IN www-nytimes-com-4388 1 34 Risk Risk NNP www-nytimes-com-4388 1 35 and and CC www-nytimes-com-4388 1 36 Profit Profit NNP www-nytimes-com-4388 1 37 https://www.nytimes.com/2021/07/23/us/politics/crypto-billionaires.html https://www.nytimes.com/2021/07/23/us/politics/crypto-billionaires.html NNP www-nytimes-com-4388 1 38 Advertisement Advertisement NNP www-nytimes-com-4388 1 39 Continue Continue NNP www-nytimes-com-4388 1 40 reading read VBG www-nytimes-com-4388 1 41 the the DT www-nytimes-com-4388 1 42 main main JJ www-nytimes-com-4388 1 43 story story NN www-nytimes-com-4388 1 44 Supported support VBN www-nytimes-com-4388 1 45 by by IN www-nytimes-com-4388 1 46 Continue Continue NNP www-nytimes-com-4388 1 47 reading read VBG www-nytimes-com-4388 1 48 the the DT www-nytimes-com-4388 1 49 main main JJ www-nytimes-com-4388 1 50 story story NN www-nytimes-com-4388 1 51 Crypto Crypto NNP www-nytimes-com-4388 1 52 Nomads Nomads NNPS www-nytimes-com-4388 1 53 : : : www-nytimes-com-4388 1 54 Surfing surf VBG www-nytimes-com-4388 1 55 the the DT www-nytimes-com-4388 1 56 World World NNP www-nytimes-com-4388 1 57 for for IN www-nytimes-com-4388 1 58 Risk Risk NNP www-nytimes-com-4388 1 59 and and CC www-nytimes-com-4388 1 60 Profit Profit NNP www-nytimes-com-4388 1 61 A a DT www-nytimes-com-4388 1 62 new new JJ www-nytimes-com-4388 1 63 generation generation NN www-nytimes-com-4388 1 64 of of IN www-nytimes-com-4388 1 65 industry industry NN www-nytimes-com-4388 1 66 leaders leader NNS www-nytimes-com-4388 1 67 has have VBZ www-nytimes-com-4388 1 68 set set VBN www-nytimes-com-4388 1 69 up up RP www-nytimes-com-4388 1 70 offshore offshore JJ www-nytimes-com-4388 1 71 trading trading NN www-nytimes-com-4388 1 72 exchanges exchange NNS www-nytimes-com-4388 1 73 largely largely RB www-nytimes-com-4388 1 74 beyond beyond IN www-nytimes-com-4388 1 75 the the DT www-nytimes-com-4388 1 76 reach reach NN www-nytimes-com-4388 1 77 of of IN www-nytimes-com-4388 1 78 American american JJ www-nytimes-com-4388 1 79 regulators regulator NNS www-nytimes-com-4388 1 80 . . . www-nytimes-com-4388 2 1 Sam Sam NNP www-nytimes-com-4388 2 2 Bankman Bankman NNP www-nytimes-com-4388 2 3 - - HYPH www-nytimes-com-4388 2 4 Fried Fried NNP www-nytimes-com-4388 2 5 ’s ’s POS www-nytimes-com-4388 2 6 cryptocurrency cryptocurrency NN www-nytimes-com-4388 2 7 exchange exchange NN www-nytimes-com-4388 2 8 , , , www-nytimes-com-4388 2 9 FTX FTX NNP www-nytimes-com-4388 2 10 , , , www-nytimes-com-4388 2 11 now now RB www-nytimes-com-4388 2 12 has have VBZ www-nytimes-com-4388 2 13 one one CD www-nytimes-com-4388 2 14 million million CD www-nytimes-com-4388 2 15 users user NNS www-nytimes-com-4388 2 16 and and CC www-nytimes-com-4388 2 17 handles handle NNS www-nytimes-com-4388 2 18 as as RB www-nytimes-com-4388 2 19 much much JJ www-nytimes-com-4388 2 20 as as IN www-nytimes-com-4388 2 21 $ $ $ www-nytimes-com-4388 2 22 20 20 CD www-nytimes-com-4388 2 23 billion billion CD www-nytimes-com-4388 2 24 a a DT www-nytimes-com-4388 2 25 day day NN www-nytimes-com-4388 2 26 in in IN www-nytimes-com-4388 2 27 transactions transaction NNS www-nytimes-com-4388 2 28 . . . www-nytimes-com-4388 2 29 Credit credit NN www-nytimes-com-4388 2 30 ... ... . www-nytimes-com-4388 2 31 Lam Lam NNP www-nytimes-com-4388 2 32 Yik Yik NNP www-nytimes-com-4388 2 33 Fei Fei NNP www-nytimes-com-4388 2 34 for for IN www-nytimes-com-4388 2 35 The the DT www-nytimes-com-4388 2 36 New New NNP www-nytimes-com-4388 2 37 York York NNP www-nytimes-com-4388 2 38 Times Times NNP www-nytimes-com-4388 2 39 By by IN www-nytimes-com-4388 2 40 Eric Eric NNP www-nytimes-com-4388 2 41 Lipton Lipton NNP www-nytimes-com-4388 2 42 and and CC www-nytimes-com-4388 2 43 Ephrat Ephrat NNP www-nytimes-com-4388 2 44 Livni Livni NNP www-nytimes-com-4388 2 45 Published publish VBN www-nytimes-com-4388 2 46 July July NNP www-nytimes-com-4388 2 47 23 23 CD www-nytimes-com-4388 2 48 , , , www-nytimes-com-4388 2 49 2021Updated 2021updated CD www-nytimes-com-4388 2 50 Aug. August NNP www-nytimes-com-4388 2 51 2 2 CD www-nytimes-com-4388 2 52 , , , www-nytimes-com-4388 2 53 2021 2021 CD www-nytimes-com-4388 2 54 It -PRON- PRP www-nytimes-com-4388 2 55 is be VBZ www-nytimes-com-4388 2 56 just just RB www-nytimes-com-4388 2 57 after after IN www-nytimes-com-4388 2 58 midnight midnight NN www-nytimes-com-4388 2 59 in in IN www-nytimes-com-4388 2 60 Hong Hong NNP www-nytimes-com-4388 2 61 Kong Kong NNP www-nytimes-com-4388 2 62 , , , www-nytimes-com-4388 2 63 and and CC www-nytimes-com-4388 2 64 Sam Sam NNP www-nytimes-com-4388 2 65 Bankman Bankman NNP www-nytimes-com-4388 2 66 - - HYPH www-nytimes-com-4388 2 67 Fried Fried NNP www-nytimes-com-4388 2 68 stares stare NNS www-nytimes-com-4388 2 69 at at IN www-nytimes-com-4388 2 70 the the DT www-nytimes-com-4388 2 71 trading trading NN www-nytimes-com-4388 2 72 data datum NNS www-nytimes-com-4388 2 73 on on IN www-nytimes-com-4388 2 74 his -PRON- PRP$ www-nytimes-com-4388 2 75 six six CD www-nytimes-com-4388 2 76 monitors monitor NNS www-nytimes-com-4388 2 77 , , , www-nytimes-com-4388 2 78 watching watch VBG www-nytimes-com-4388 2 79 a a DT www-nytimes-com-4388 2 80 global global JJ www-nytimes-com-4388 2 81 cryptocurrency cryptocurrency NN www-nytimes-com-4388 2 82 crash crash NN www-nytimes-com-4388 2 83 happening happening NN www-nytimes-com-4388 2 84 in in IN www-nytimes-com-4388 2 85 real real JJ www-nytimes-com-4388 2 86 time time NN www-nytimes-com-4388 2 87 . . . www-nytimes-com-4388 3 1 Mr. Mr. NNP www-nytimes-com-4388 3 2 Bankman Bankman NNP www-nytimes-com-4388 3 3 - - HYPH www-nytimes-com-4388 3 4 Fried Fried NNP www-nytimes-com-4388 3 5 , , , www-nytimes-com-4388 3 6 a a DT www-nytimes-com-4388 3 7 29-year 29-year CD www-nytimes-com-4388 3 8 - - HYPH www-nytimes-com-4388 3 9 old old JJ www-nytimes-com-4388 3 10 from from IN www-nytimes-com-4388 3 11 California California NNP www-nytimes-com-4388 3 12 , , , www-nytimes-com-4388 3 13 often often RB www-nytimes-com-4388 3 14 works work VBZ www-nytimes-com-4388 3 15 around around IN www-nytimes-com-4388 3 16 the the DT www-nytimes-com-4388 3 17 clock clock NN www-nytimes-com-4388 3 18 , , , www-nytimes-com-4388 3 19 as as IN www-nytimes-com-4388 3 20 he -PRON- PRP www-nytimes-com-4388 3 21 was be VBD www-nytimes-com-4388 3 22 on on IN www-nytimes-com-4388 3 23 that that DT www-nytimes-com-4388 3 24 May May NNP www-nytimes-com-4388 3 25 evening evening NN www-nytimes-com-4388 3 26 . . . www-nytimes-com-4388 4 1 He -PRON- PRP www-nytimes-com-4388 4 2 naps nap VBZ www-nytimes-com-4388 4 3 on on IN www-nytimes-com-4388 4 4 a a DT www-nytimes-com-4388 4 5 beanbag beanbag NN www-nytimes-com-4388 4 6 set set VBN www-nytimes-com-4388 4 7 up up RP www-nytimes-com-4388 4 8 near near IN www-nytimes-com-4388 4 9 his -PRON- PRP$ www-nytimes-com-4388 4 10 computer computer NN www-nytimes-com-4388 4 11 . . . www-nytimes-com-4388 5 1 A a DT www-nytimes-com-4388 5 2 folded fold VBN www-nytimes-com-4388 5 3 up up RP www-nytimes-com-4388 5 4 blanket blanket NN www-nytimes-com-4388 5 5 sits sit NNS www-nytimes-com-4388 5 6 on on IN www-nytimes-com-4388 5 7 the the DT www-nytimes-com-4388 5 8 floor floor NN www-nytimes-com-4388 5 9 . . . www-nytimes-com-4388 6 1 He -PRON- PRP www-nytimes-com-4388 6 2 ’s ’ VBZ www-nytimes-com-4388 6 3 worth worth JJ www-nytimes-com-4388 6 4 at at RB www-nytimes-com-4388 6 5 least least RBS www-nytimes-com-4388 6 6 $ $ $ www-nytimes-com-4388 6 7 8 8 CD www-nytimes-com-4388 6 8 billion billion CD www-nytimes-com-4388 6 9 , , , www-nytimes-com-4388 6 10 on on IN www-nytimes-com-4388 6 11 paper paper NN www-nytimes-com-4388 6 12 . . . www-nytimes-com-4388 7 1 That that DT www-nytimes-com-4388 7 2 is be VBZ www-nytimes-com-4388 7 3 even even RB www-nytimes-com-4388 7 4 after after IN www-nytimes-com-4388 7 5 the the DT www-nytimes-com-4388 7 6 downturn downturn NN www-nytimes-com-4388 7 7 that that WDT www-nytimes-com-4388 7 8 started start VBD www-nytimes-com-4388 7 9 in in IN www-nytimes-com-4388 7 10 the the DT www-nytimes-com-4388 7 11 spring spring NN www-nytimes-com-4388 7 12 , , , www-nytimes-com-4388 7 13 where where WRB www-nytimes-com-4388 7 14 total total JJ www-nytimes-com-4388 7 15 global global JJ www-nytimes-com-4388 7 16 losses loss NNS www-nytimes-com-4388 7 17 in in IN www-nytimes-com-4388 7 18 the the DT www-nytimes-com-4388 7 19 value value NN www-nytimes-com-4388 7 20 of of IN www-nytimes-com-4388 7 21 all all DT www-nytimes-com-4388 7 22 cryptocurrency cryptocurrency NN www-nytimes-com-4388 7 23 eventually eventually RB www-nytimes-com-4388 7 24 topped top VBD www-nytimes-com-4388 7 25 $ $ $ www-nytimes-com-4388 7 26 1.3 1.3 CD www-nytimes-com-4388 7 27 trillion trillion CD www-nytimes-com-4388 7 28 . . . www-nytimes-com-4388 8 1 And and CC www-nytimes-com-4388 8 2 as as IN www-nytimes-com-4388 8 3 Mr. Mr. NNP www-nytimes-com-4388 8 4 Bankman Bankman NNP www-nytimes-com-4388 8 5 - - HYPH www-nytimes-com-4388 8 6 Fried Fried NNP www-nytimes-com-4388 8 7 saw see VBD www-nytimes-com-4388 8 8 it -PRON- PRP www-nytimes-com-4388 8 9 play play VB www-nytimes-com-4388 8 10 out out RP www-nytimes-com-4388 8 11 , , , www-nytimes-com-4388 8 12 he -PRON- PRP www-nytimes-com-4388 8 13 knew know VBD www-nytimes-com-4388 8 14 his -PRON- PRP$ www-nytimes-com-4388 8 15 business business NN www-nytimes-com-4388 8 16 played play VBD www-nytimes-com-4388 8 17 a a DT www-nytimes-com-4388 8 18 role role NN www-nytimes-com-4388 8 19 in in IN www-nytimes-com-4388 8 20 the the DT www-nytimes-com-4388 8 21 collapse collapse NN www-nytimes-com-4388 8 22 . . . www-nytimes-com-4388 9 1 Cryptocurrency cryptocurrency NN www-nytimes-com-4388 9 2 — — : www-nytimes-com-4388 9 3 digital digital JJ www-nytimes-com-4388 9 4 money money NN www-nytimes-com-4388 9 5 not not RB www-nytimes-com-4388 9 6 backed back VBN www-nytimes-com-4388 9 7 by by IN www-nytimes-com-4388 9 8 any any DT www-nytimes-com-4388 9 9 nation nation NN www-nytimes-com-4388 9 10 — — : www-nytimes-com-4388 9 11 is be VBZ www-nytimes-com-4388 9 12 famous famous JJ www-nytimes-com-4388 9 13 for for IN www-nytimes-com-4388 9 14 its -PRON- PRP$ www-nytimes-com-4388 9 15 wild wild JJ www-nytimes-com-4388 9 16 and and CC www-nytimes-com-4388 9 17 frequent frequent JJ www-nytimes-com-4388 9 18 gyrations gyration NNS www-nytimes-com-4388 9 19 . . . www-nytimes-com-4388 10 1 But but CC www-nytimes-com-4388 10 2 FTX FTX NNP www-nytimes-com-4388 10 3 , , , www-nytimes-com-4388 10 4 the the DT www-nytimes-com-4388 10 5 cryptocurrency cryptocurrency NN www-nytimes-com-4388 10 6 trading trading NN www-nytimes-com-4388 10 7 platform platform NN www-nytimes-com-4388 10 8 that that WDT www-nytimes-com-4388 10 9 Mr. Mr. NNP www-nytimes-com-4388 10 10 Bankman Bankman NNP www-nytimes-com-4388 10 11 - - HYPH www-nytimes-com-4388 10 12 Fried Fried NNP www-nytimes-com-4388 10 13 runs run NNS www-nytimes-com-4388 10 14 , , , www-nytimes-com-4388 10 15 specializes specialize VBZ www-nytimes-com-4388 10 16 in in IN www-nytimes-com-4388 10 17 a a DT www-nytimes-com-4388 10 18 kind kind NN www-nytimes-com-4388 10 19 of of IN www-nytimes-com-4388 10 20 trade trade NN www-nytimes-com-4388 10 21 that that WDT www-nytimes-com-4388 10 22 was be VBD www-nytimes-com-4388 10 23 accelerating accelerate VBG www-nytimes-com-4388 10 24 the the DT www-nytimes-com-4388 10 25 global global JJ www-nytimes-com-4388 10 26 crash crash NN www-nytimes-com-4388 10 27 . . . www-nytimes-com-4388 11 1 Most Most JJS www-nytimes-com-4388 11 2 of of IN www-nytimes-com-4388 11 3 his -PRON- PRP$ www-nytimes-com-4388 11 4 customers customer NNS www-nytimes-com-4388 11 5 are be VBP www-nytimes-com-4388 11 6 betting bet VBG www-nytimes-com-4388 11 7 on on IN www-nytimes-com-4388 11 8 future future JJ www-nytimes-com-4388 11 9 cryptocurrency cryptocurrency NN www-nytimes-com-4388 11 10 price price NN www-nytimes-com-4388 11 11 fluctuations fluctuation NNS www-nytimes-com-4388 11 12 rather rather RB www-nytimes-com-4388 11 13 than than IN www-nytimes-com-4388 11 14 buying buy VBG www-nytimes-com-4388 11 15 and and CC www-nytimes-com-4388 11 16 selling sell VBG www-nytimes-com-4388 11 17 Bitcoin Bitcoin NNP www-nytimes-com-4388 11 18 , , , www-nytimes-com-4388 11 19 and and CC www-nytimes-com-4388 11 20 they -PRON- PRP www-nytimes-com-4388 11 21 are be VBP www-nytimes-com-4388 11 22 borrowing borrow VBG www-nytimes-com-4388 11 23 to to TO www-nytimes-com-4388 11 24 make make VB www-nytimes-com-4388 11 25 those those DT www-nytimes-com-4388 11 26 bets bet NNS www-nytimes-com-4388 11 27 even even RB www-nytimes-com-4388 11 28 bigger big JJR www-nytimes-com-4388 11 29 . . . www-nytimes-com-4388 12 1 It -PRON- PRP www-nytimes-com-4388 12 2 is be VBZ www-nytimes-com-4388 12 3 a a DT www-nytimes-com-4388 12 4 risky risky JJ www-nytimes-com-4388 12 5 approach approach NN www-nytimes-com-4388 12 6 . . . www-nytimes-com-4388 13 1 But but CC www-nytimes-com-4388 13 2 it -PRON- PRP 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www-nytimes-com-4388 14 21 FTX FTX NNP www-nytimes-com-4388 14 22 and and CC www-nytimes-com-4388 14 23 other other JJ www-nytimes-com-4388 14 24 exchanges exchange NNS www-nytimes-com-4388 14 25 , , , www-nytimes-com-4388 14 26 and and CC www-nytimes-com-4388 14 27 forcing force VBG www-nytimes-com-4388 14 28 sales sale NNS www-nytimes-com-4388 14 29 of of IN www-nytimes-com-4388 14 30 their -PRON- PRP$ www-nytimes-com-4388 14 31 positions position NNS www-nytimes-com-4388 14 32 in in IN www-nytimes-com-4388 14 33 wave wave NN www-nytimes-com-4388 14 34 after after IN www-nytimes-com-4388 14 35 wave wave NN www-nytimes-com-4388 14 36 of of IN www-nytimes-com-4388 14 37 account account NN www-nytimes-com-4388 14 38 liquidations liquidation NNS www-nytimes-com-4388 14 39 . . . www-nytimes-com-4388 15 1 These these DT www-nytimes-com-4388 15 2 forced force VBN www-nytimes-com-4388 15 3 sales sale NNS www-nytimes-com-4388 15 4 were be VBD www-nytimes-com-4388 15 5 helping help VBG www-nytimes-com-4388 15 6 undermine undermine JJ www-nytimes-com-4388 15 7 cryptocurrency cryptocurrency NN www-nytimes-com-4388 15 8 prices price NNS www-nytimes-com-4388 15 9 . . . www-nytimes-com-4388 16 1 Betting bet VBG www-nytimes-com-4388 16 2 on on IN www-nytimes-com-4388 16 3 Future Future NNP www-nytimes-com-4388 16 4 Prices price NNS www-nytimes-com-4388 16 5 Much much JJ www-nytimes-com-4388 16 6 of of IN www-nytimes-com-4388 16 7 the the DT www-nytimes-com-4388 16 8 money money NN www-nytimes-com-4388 16 9 being be VBG www-nytimes-com-4388 16 10 invested invest VBN www-nytimes-com-4388 16 11 in in IN www-nytimes-com-4388 16 12 cryptocurrency cryptocurrency NN www-nytimes-com-4388 16 13 globally globally RB www-nytimes-com-4388 16 14 comes come VBZ www-nytimes-com-4388 16 15 through through IN www-nytimes-com-4388 16 16 bets bet NNS www-nytimes-com-4388 16 17 , , , www-nytimes-com-4388 16 18 known know VBN www-nytimes-com-4388 16 19 as as IN www-nytimes-com-4388 16 20 perpetual perpetual JJ www-nytimes-com-4388 16 21 swaps swap NNS www-nytimes-com-4388 16 22 , , , www-nytimes-com-4388 16 23 on on IN www-nytimes-com-4388 16 24 future future JJ www-nytimes-com-4388 16 25 price price NN www-nytimes-com-4388 16 26 changes change NNS www-nytimes-com-4388 16 27 . . . www-nytimes-com-4388 17 1 Three three CD www-nytimes-com-4388 17 2 - - HYPH www-nytimes-com-4388 17 3 day day NN www-nytimes-com-4388 17 4 moving move VBG www-nytimes-com-4388 17 5 average average NN www-nytimes-com-4388 17 6 of of IN www-nytimes-com-4388 17 7 the the DT www-nytimes-com-4388 17 8 value value NN www-nytimes-com-4388 17 9 of of IN www-nytimes-com-4388 17 10 open open JJ www-nytimes-com-4388 17 11 Bitcoin Bitcoin NNP www-nytimes-com-4388 17 12 perpetual perpetual JJ www-nytimes-com-4388 17 13 swaps swap NNS www-nytimes-com-4388 17 14 , , , www-nytimes-com-4388 17 15 for for IN www-nytimes-com-4388 17 16 10 10 CD www-nytimes-com-4388 17 17 top top JJ www-nytimes-com-4388 17 18 cryptocurrency cryptocurrency NN www-nytimes-com-4388 17 19 exchanges exchange NNS www-nytimes-com-4388 17 20 Source source NN www-nytimes-com-4388 17 21 : : : www-nytimes-com-4388 17 22 Coin Coin NNP www-nytimes-com-4388 17 23 Metrics metric NNS www-nytimes-com-4388 17 24 By by IN www-nytimes-com-4388 17 25 The the DT www-nytimes-com-4388 17 26 New New NNP www-nytimes-com-4388 17 27 York York NNP www-nytimes-com-4388 17 28 Times Times NNP www-nytimes-com-4388 17 29 “ " `` www-nytimes-com-4388 17 30 In in IN www-nytimes-com-4388 17 31 terms term NNS www-nytimes-com-4388 17 32 of of IN www-nytimes-com-4388 17 33 price price NN www-nytimes-com-4388 17 34 movements movement NNS www-nytimes-com-4388 17 35 , , , www-nytimes-com-4388 17 36 the the DT www-nytimes-com-4388 17 37 biggest big JJS www-nytimes-com-4388 17 38 part part NN www-nytimes-com-4388 17 39 of of IN www-nytimes-com-4388 17 40 it -PRON- PRP www-nytimes-com-4388 17 41 is be VBZ www-nytimes-com-4388 17 42 liquidations liquidation NNS www-nytimes-com-4388 17 43 , , , www-nytimes-com-4388 17 44 ” " '' www-nytimes-com-4388 17 45 he -PRON- PRP www-nytimes-com-4388 17 46 wrote write VBD www-nytimes-com-4388 17 47 to to IN www-nytimes-com-4388 17 48 The the DT www-nytimes-com-4388 17 49 New New NNP www-nytimes-com-4388 17 50 York York NNP www-nytimes-com-4388 17 51 Times Times NNP www-nytimes-com-4388 17 52 on on IN www-nytimes-com-4388 17 53 May May NNP www-nytimes-com-4388 17 54 24 24 CD www-nytimes-com-4388 17 55 from from IN www-nytimes-com-4388 17 56 Hong Hong NNP www-nytimes-com-4388 17 57 Kong Kong NNP www-nytimes-com-4388 17 58 . . . www-nytimes-com-4388 18 1 This this DT www-nytimes-com-4388 18 2 is be VBZ www-nytimes-com-4388 18 3 precisely precisely RB www-nytimes-com-4388 18 4 the the DT www-nytimes-com-4388 18 5 type type NN www-nytimes-com-4388 18 6 of of IN www-nytimes-com-4388 18 7 situation situation NN www-nytimes-com-4388 18 8 that that WDT www-nytimes-com-4388 18 9 United United NNP www-nytimes-com-4388 18 10 States States NNP www-nytimes-com-4388 18 11 regulators regulator NNS www-nytimes-com-4388 18 12 have have VBP www-nytimes-com-4388 18 13 tried try VBN www-nytimes-com-4388 18 14 to to TO www-nytimes-com-4388 18 15 avoid avoid VB www-nytimes-com-4388 18 16 by by IN www-nytimes-com-4388 18 17 prohibiting prohibit VBG www-nytimes-com-4388 18 18 cryptocurrency cryptocurrency NN www-nytimes-com-4388 18 19 exchanges exchange NNS www-nytimes-com-4388 18 20 like like IN www-nytimes-com-4388 18 21 FTX FTX NNP www-nytimes-com-4388 18 22 from from IN www-nytimes-com-4388 18 23 selling sell VBG www-nytimes-com-4388 18 24 high high JJ www-nytimes-com-4388 18 25 - - HYPH www-nytimes-com-4388 18 26 risk risk NN www-nytimes-com-4388 18 27 futures future NNS www-nytimes-com-4388 18 28 to to IN www-nytimes-com-4388 18 29 nonprofessional nonprofessional JJ www-nytimes-com-4388 18 30 investors investor NNS www-nytimes-com-4388 18 31 in in IN www-nytimes-com-4388 18 32 the the DT www-nytimes-com-4388 18 33 United United NNP www-nytimes-com-4388 18 34 States States NNP www-nytimes-com-4388 18 35 . . . www-nytimes-com-4388 19 1 And and CC www-nytimes-com-4388 19 2 it -PRON- PRP www-nytimes-com-4388 19 3 is be VBZ www-nytimes-com-4388 19 4 why why WRB www-nytimes-com-4388 19 5 Mr. Mr. NNP www-nytimes-com-4388 19 6 Bankman Bankman NNP www-nytimes-com-4388 19 7 - - HYPH www-nytimes-com-4388 19 8 Fried Fried NNP www-nytimes-com-4388 19 9 moved move VBD www-nytimes-com-4388 19 10 to to IN www-nytimes-com-4388 19 11 Hong Hong NNP www-nytimes-com-4388 19 12 Kong Kong NNP www-nytimes-com-4388 19 13 — — : www-nytimes-com-4388 19 14 as as IN www-nytimes-com-4388 19 15 he -PRON- PRP www-nytimes-com-4388 19 16 wanted want VBD www-nytimes-com-4388 19 17 to to TO www-nytimes-com-4388 19 18 offer offer VB www-nytimes-com-4388 19 19 these these DT www-nytimes-com-4388 19 20 products product NNS www-nytimes-com-4388 19 21 , , , www-nytimes-com-4388 19 22 called call VBN www-nytimes-com-4388 19 23 derivatives derivative NNS www-nytimes-com-4388 19 24 . . . www-nytimes-com-4388 20 1 Mr. Mr. NNP www-nytimes-com-4388 20 2 Bankman Bankman NNP www-nytimes-com-4388 20 3 - - HYPH www-nytimes-com-4388 20 4 Fried Fried NNP www-nytimes-com-4388 20 5 is be VBZ www-nytimes-com-4388 20 6 a a DT www-nytimes-com-4388 20 7 crypto crypto NN www-nytimes-com-4388 20 8 nomad nomad NN www-nytimes-com-4388 20 9 : : : www-nytimes-com-4388 20 10 One one CD www-nytimes-com-4388 20 11 of of IN www-nytimes-com-4388 20 12 a a DT www-nytimes-com-4388 20 13 group group NN www-nytimes-com-4388 20 14 of of IN www-nytimes-com-4388 20 15 industry industry NN www-nytimes-com-4388 20 16 leaders leader NNS www-nytimes-com-4388 20 17 who who WP www-nytimes-com-4388 20 18 once once RB www-nytimes-com-4388 20 19 lived live VBD www-nytimes-com-4388 20 20 in in IN www-nytimes-com-4388 20 21 the the DT www-nytimes-com-4388 20 22 United United NNP www-nytimes-com-4388 20 23 States States NNP www-nytimes-com-4388 20 24 or or CC www-nytimes-com-4388 20 25 Canada Canada NNP www-nytimes-com-4388 20 26 and and CC www-nytimes-com-4388 20 27 have have VB www-nytimes-com-4388 20 28 since since IN www-nytimes-com-4388 20 29 set set VBN www-nytimes-com-4388 20 30 up up RP www-nytimes-com-4388 20 31 companies company NNS www-nytimes-com-4388 20 32 with with IN www-nytimes-com-4388 20 33 bases basis NNS www-nytimes-com-4388 20 34 of of IN www-nytimes-com-4388 20 35 operation operation NN www-nytimes-com-4388 20 36 where where WRB www-nytimes-com-4388 20 37 they -PRON- PRP www-nytimes-com-4388 20 38 are be VBP www-nytimes-com-4388 20 39 to to IN www-nytimes-com-4388 20 40 some some DT www-nytimes-com-4388 20 41 degree degree NN www-nytimes-com-4388 20 42 beyond beyond IN www-nytimes-com-4388 20 43 the the DT www-nytimes-com-4388 20 44 reach reach NN www-nytimes-com-4388 20 45 of of IN www-nytimes-com-4388 20 46 American american JJ www-nytimes-com-4388 20 47 regulators regulator NNS www-nytimes-com-4388 20 48 . . . www-nytimes-com-4388 21 1 Others other NNS www-nytimes-com-4388 21 2 include include VBP www-nytimes-com-4388 21 3 Changpeng Changpeng NNP www-nytimes-com-4388 21 4 Zhao Zhao NNP www-nytimes-com-4388 21 5 , , , www-nytimes-com-4388 21 6 44 44 CD www-nytimes-com-4388 21 7 , , , www-nytimes-com-4388 21 8 the the DT www-nytimes-com-4388 21 9 Chinese chinese JJ www-nytimes-com-4388 21 10 - - HYPH www-nytimes-com-4388 21 11 Canadian canadian JJ www-nytimes-com-4388 21 12 founder founder NN www-nytimes-com-4388 21 13 of of IN www-nytimes-com-4388 21 14 Binance Binance NNP www-nytimes-com-4388 21 15 , , , www-nytimes-com-4388 21 16 who who WP www-nytimes-com-4388 21 17 now now RB www-nytimes-com-4388 21 18 lives live VBZ www-nytimes-com-4388 21 19 in in IN www-nytimes-com-4388 21 20 Singapore Singapore NNP www-nytimes-com-4388 21 21 , , , www-nytimes-com-4388 21 22 and and CC www-nytimes-com-4388 21 23 Arthur Arthur NNP www-nytimes-com-4388 21 24 Hayes Hayes NNP www-nytimes-com-4388 21 25 , , , www-nytimes-com-4388 21 26 35 35 CD www-nytimes-com-4388 21 27 , , , www-nytimes-com-4388 21 28 a a DT www-nytimes-com-4388 21 29 Buffalo Buffalo NNP www-nytimes-com-4388 21 30 - - HYPH www-nytimes-com-4388 21 31 born bear VBN www-nytimes-com-4388 21 32 trader trader NN www-nytimes-com-4388 21 33 who who WP www-nytimes-com-4388 21 34 helped help VBD www-nytimes-com-4388 21 35 create create VB www-nytimes-com-4388 21 36 BitMEX BitMEX NNP www-nytimes-com-4388 21 37 , , , www-nytimes-com-4388 21 38 which which WDT www-nytimes-com-4388 21 39 is be VBZ www-nytimes-com-4388 21 40 based base VBN www-nytimes-com-4388 21 41 in in IN www-nytimes-com-4388 21 42 the the DT www-nytimes-com-4388 21 43 Seychelles Seychelles NNP www-nytimes-com-4388 21 44 islands island NNS www-nytimes-com-4388 21 45 . . . www-nytimes-com-4388 22 1 Image image NN www-nytimes-com-4388 22 2 “ " `` www-nytimes-com-4388 22 3 The the DT www-nytimes-com-4388 22 4 word word NN www-nytimes-com-4388 22 5 risk risk NN www-nytimes-com-4388 22 6 means mean VBZ www-nytimes-com-4388 22 7 different different JJ www-nytimes-com-4388 22 8 things thing NNS www-nytimes-com-4388 22 9 to to IN www-nytimes-com-4388 22 10 different different JJ www-nytimes-com-4388 22 11 people people NNS www-nytimes-com-4388 22 12 , , , www-nytimes-com-4388 22 13 ” " '' www-nytimes-com-4388 22 14 said say VBD www-nytimes-com-4388 22 15 Changpeng Changpeng NNP www-nytimes-com-4388 22 16 Zhao Zhao NNP www-nytimes-com-4388 22 17 , , , www-nytimes-com-4388 22 18 the the DT www-nytimes-com-4388 22 19 chief chief JJ www-nytimes-com-4388 22 20 executive executive NN www-nytimes-com-4388 22 21 of of IN www-nytimes-com-4388 22 22 Binance Binance NNP www-nytimes-com-4388 22 23 . . . www-nytimes-com-4388 23 1 “ " `` www-nytimes-com-4388 23 2 Some some DT www-nytimes-com-4388 23 3 people people NNS www-nytimes-com-4388 23 4 say say VBP www-nytimes-com-4388 23 5 risk risk NN www-nytimes-com-4388 23 6 . . . www-nytimes-com-4388 24 1 Some some DT www-nytimes-com-4388 24 2 people people NNS www-nytimes-com-4388 24 3 say say VBP www-nytimes-com-4388 24 4 opportunity opportunity NN www-nytimes-com-4388 24 5 . . . www-nytimes-com-4388 24 6 ”Credit ”Credit '' www-nytimes-com-4388 24 7 ... ... : www-nytimes-com-4388 24 8 Ore ore VB www-nytimes-com-4388 24 9 Huiying huiying NN www-nytimes-com-4388 24 10 for for IN www-nytimes-com-4388 24 11 The the DT www-nytimes-com-4388 24 12 New New NNP www-nytimes-com-4388 24 13 York York NNP www-nytimes-com-4388 24 14 Times Times NNP www-nytimes-com-4388 24 15 It -PRON- PRP www-nytimes-com-4388 24 16 ’s ’ VBZ www-nytimes-com-4388 24 17 a a DT www-nytimes-com-4388 24 18 tribe tribe NN www-nytimes-com-4388 24 19 that that WDT www-nytimes-com-4388 24 20 never never RB www-nytimes-com-4388 24 21 turns turn VBZ www-nytimes-com-4388 24 22 off off RP www-nytimes-com-4388 24 23 — — : www-nytimes-com-4388 24 24 trading trading NN www-nytimes-com-4388 24 25 takes take VBZ www-nytimes-com-4388 24 26 place place NN www-nytimes-com-4388 24 27 24 24 CD www-nytimes-com-4388 24 28 hours hour NNS www-nytimes-com-4388 24 29 a a DT www-nytimes-com-4388 24 30 day day NN www-nytimes-com-4388 24 31 , , , www-nytimes-com-4388 24 32 365 365 CD www-nytimes-com-4388 24 33 days day NNS www-nytimes-com-4388 24 34 a a DT www-nytimes-com-4388 24 35 year year NN www-nytimes-com-4388 24 36 . . . www-nytimes-com-4388 25 1 ( ( -LRB- www-nytimes-com-4388 25 2 Mr. Mr. NNP www-nytimes-com-4388 25 3 Bankman Bankman NNP www-nytimes-com-4388 25 4 - - HYPH www-nytimes-com-4388 25 5 Fried Fried NNP www-nytimes-com-4388 25 6 said say VBD www-nytimes-com-4388 25 7 he -PRON- PRP www-nytimes-com-4388 25 8 sleeps sleep VBZ www-nytimes-com-4388 25 9 when when WRB www-nytimes-com-4388 25 10 he -PRON- PRP www-nytimes-com-4388 25 11 has have VBZ www-nytimes-com-4388 25 12 no no DT www-nytimes-com-4388 25 13 meetings meeting NNS www-nytimes-com-4388 25 14 and and CC www-nytimes-com-4388 25 15 works work VBZ www-nytimes-com-4388 25 16 “ " `` www-nytimes-com-4388 25 17 the the DT www-nytimes-com-4388 25 18 hours hour NNS www-nytimes-com-4388 25 19 when when WRB www-nytimes-com-4388 25 20 this this DT www-nytimes-com-4388 25 21 counterparty counterparty NN www-nytimes-com-4388 25 22 is be VBZ www-nytimes-com-4388 25 23 awake awake JJ www-nytimes-com-4388 25 24 and and CC www-nytimes-com-4388 25 25 the the DT www-nytimes-com-4388 25 26 hours hour NNS www-nytimes-com-4388 25 27 when when WRB www-nytimes-com-4388 25 28 that that DT www-nytimes-com-4388 25 29 counterparty counterparty NN www-nytimes-com-4388 25 30 is be VBZ www-nytimes-com-4388 25 31 awake awake JJ www-nytimes-com-4388 25 32 . . . www-nytimes-com-4388 25 33 ” " '' www-nytimes-com-4388 25 34 ) ) -RRB- www-nytimes-com-4388 25 35 These these DT www-nytimes-com-4388 25 36 crypto crypto NN www-nytimes-com-4388 25 37 nomads nomad NNS www-nytimes-com-4388 25 38 have have VBP www-nytimes-com-4388 25 39 built build VBN www-nytimes-com-4388 25 40 a a DT www-nytimes-com-4388 25 41 global global JJ www-nytimes-com-4388 25 42 playground playground NN www-nytimes-com-4388 25 43 , , , www-nytimes-com-4388 25 44 inspired inspire VBN www-nytimes-com-4388 25 45 by by IN www-nytimes-com-4388 25 46 multiplayer multiplayer NNP www-nytimes-com-4388 25 47 online online NNP www-nytimes-com-4388 25 48 games game NNS www-nytimes-com-4388 25 49 , , , www-nytimes-com-4388 25 50 with with IN www-nytimes-com-4388 25 51 “ " `` www-nytimes-com-4388 25 52 leader leader NN www-nytimes-com-4388 25 53 boards board NNS www-nytimes-com-4388 25 54 ” " '' www-nytimes-com-4388 25 55 for for IN www-nytimes-com-4388 25 56 customers customer NNS www-nytimes-com-4388 25 57 who who WP www-nytimes-com-4388 25 58 go go VBP www-nytimes-com-4388 25 59 by by IN www-nytimes-com-4388 25 60 aliases alias NNS www-nytimes-com-4388 25 61 like like IN www-nytimes-com-4388 25 62 Dark Dark NNP www-nytimes-com-4388 25 63 Crypto Crypto NNP www-nytimes-com-4388 25 64 Lord Lord NNP www-nytimes-com-4388 25 65 and and CC www-nytimes-com-4388 25 66 can can MD www-nytimes-com-4388 25 67 win win VB www-nytimes-com-4388 25 68   _SP www-nytimes-com-4388 25 69 prize prize NN www-nytimes-com-4388 25 70 giveaways giveaway NNS www-nytimes-com-4388 25 71   _SP www-nytimes-com-4388 25 72 of of IN www-nytimes-com-4388 25 73 Teslas Teslas NNP www-nytimes-com-4388 25 74 or or CC www-nytimes-com-4388 25 75 iPhones iPhones NNPS www-nytimes-com-4388 25 76 . . . www-nytimes-com-4388 26 1 The the DT www-nytimes-com-4388 26 2 highly highly RB www-nytimes-com-4388 26 3 leveraged leverage VBN www-nytimes-com-4388 26 4 form form NN www-nytimes-com-4388 26 5 of of IN www-nytimes-com-4388 26 6 trading trading NN www-nytimes-com-4388 26 7 these these DT www-nytimes-com-4388 26 8 platforms platform NNS www-nytimes-com-4388 26 9 offer offer VBP www-nytimes-com-4388 26 10 has have VBZ www-nytimes-com-4388 26 11 become become VBN www-nytimes-com-4388 26 12 so so RB www-nytimes-com-4388 26 13 popular popular JJ www-nytimes-com-4388 26 14 that that IN www-nytimes-com-4388 26 15 the the DT www-nytimes-com-4388 26 16 overall overall JJ www-nytimes-com-4388 26 17 value value NN www-nytimes-com-4388 26 18 of of IN www-nytimes-com-4388 26 19 daily daily JJ www-nytimes-com-4388 26 20 purchases purchase NNS www-nytimes-com-4388 26 21 and and CC www-nytimes-com-4388 26 22 sales sale NNS www-nytimes-com-4388 26 23 of of IN www-nytimes-com-4388 26 24 these these DT www-nytimes-com-4388 26 25 derivatives derivative NNS www-nytimes-com-4388 26 26 far far RB www-nytimes-com-4388 26 27 surpasses surpass VBZ www-nytimes-com-4388 26 28 the the DT www-nytimes-com-4388 26 29 daily daily JJ www-nytimes-com-4388 26 30 volume volume NN www-nytimes-com-4388 26 31 of of IN www-nytimes-com-4388 26 32 actual actual JJ www-nytimes-com-4388 26 33 cryptocurrency cryptocurrency NN www-nytimes-com-4388 26 34 transactions transaction NNS www-nytimes-com-4388 26 35 , , , www-nytimes-com-4388 26 36 industry industry NN www-nytimes-com-4388 26 37 data datum NNS www-nytimes-com-4388 26 38 analyzed analyze VBN www-nytimes-com-4388 26 39 by by IN www-nytimes-com-4388 26 40 researchers researcher NNS www-nytimes-com-4388 26 41 at at IN www-nytimes-com-4388 26 42 Carnegie Carnegie NNP www-nytimes-com-4388 26 43 Mellon Mellon NNP www-nytimes-com-4388 26 44 University University NNP www-nytimes-com-4388 26 45 shows show VBZ www-nytimes-com-4388 26 46 . . . www-nytimes-com-4388 27 1 Futures future NNS www-nytimes-com-4388 27 2 vs. vs. IN www-nytimes-com-4388 27 3 Spot Spot NNP www-nytimes-com-4388 27 4 Purchases purchase VBZ www-nytimes-com-4388 27 5 The the DT www-nytimes-com-4388 27 6 largest large JJS www-nytimes-com-4388 27 7 volume volume NN www-nytimes-com-4388 27 8 of of IN www-nytimes-com-4388 27 9 daily daily JJ www-nytimes-com-4388 27 10 trades trade NNS www-nytimes-com-4388 27 11 on on IN www-nytimes-com-4388 27 12 cryptocurrency cryptocurrency NN www-nytimes-com-4388 27 13 is be VBZ www-nytimes-com-4388 27 14 for for IN www-nytimes-com-4388 27 15 so so RB www-nytimes-com-4388 27 16 - - HYPH www-nytimes-com-4388 27 17 called call VBN www-nytimes-com-4388 27 18 derivatives derivative NNS www-nytimes-com-4388 27 19 — — : www-nytimes-com-4388 27 20 bets bet NNS www-nytimes-com-4388 27 21 on on IN www-nytimes-com-4388 27 22 future future JJ www-nytimes-com-4388 27 23 prices price NNS www-nytimes-com-4388 27 24 , , , www-nytimes-com-4388 27 25 not not RB www-nytimes-com-4388 27 26 purchases purchase NNS www-nytimes-com-4388 27 27 on on IN www-nytimes-com-4388 27 28 the the DT www-nytimes-com-4388 27 29 so so RB www-nytimes-com-4388 27 30 - - HYPH www-nytimes-com-4388 27 31 called call VBN www-nytimes-com-4388 27 32 spot spot NN www-nytimes-com-4388 27 33 market market NN www-nytimes-com-4388 27 34 at at IN www-nytimes-com-4388 27 35 current current JJ www-nytimes-com-4388 27 36 prices price NNS www-nytimes-com-4388 27 37 . . . www-nytimes-com-4388 28 1 Seven seven CD www-nytimes-com-4388 28 2 - - HYPH www-nytimes-com-4388 28 3 day day NN www-nytimes-com-4388 28 4 moving move VBG www-nytimes-com-4388 28 5 average average NN www-nytimes-com-4388 28 6 of of IN www-nytimes-com-4388 28 7 global global JJ www-nytimes-com-4388 28 8 Bitcoin Bitcoin NNP www-nytimes-com-4388 28 9 trading trading NN www-nytimes-com-4388 28 10 volumes volume NNS www-nytimes-com-4388 28 11 by by IN www-nytimes-com-4388 28 12 market market NN www-nytimes-com-4388 28 13 Source source NN www-nytimes-com-4388 28 14 : : : www-nytimes-com-4388 28 15 Kyle Kyle NNP www-nytimes-com-4388 28 16 Soska Soska NNP www-nytimes-com-4388 28 17 , , , www-nytimes-com-4388 28 18 Carnegie Carnegie NNP www-nytimes-com-4388 28 19 Mellon Mellon NNP www-nytimes-com-4388 28 20 University University NNP www-nytimes-com-4388 28 21 CyLab CyLab NNP www-nytimes-com-4388 28 22 By by IN www-nytimes-com-4388 28 23 The the DT www-nytimes-com-4388 28 24 New New NNP www-nytimes-com-4388 28 25 York York NNP www-nytimes-com-4388 28 26 Times Times NNP www-nytimes-com-4388 28 27 It -PRON- PRP www-nytimes-com-4388 28 28 ’s ’ VBZ www-nytimes-com-4388 28 29 all all DT www-nytimes-com-4388 28 30 supposed suppose VBN www-nytimes-com-4388 28 31 to to TO www-nytimes-com-4388 28 32 be be VB www-nytimes-com-4388 28 33 off off IN www-nytimes-com-4388 28 34 limits limit NNS www-nytimes-com-4388 28 35 to to IN www-nytimes-com-4388 28 36 U.S. U.S. NNP www-nytimes-com-4388 28 37 investors investor NNS www-nytimes-com-4388 28 38 , , , www-nytimes-com-4388 28 39 but but CC www-nytimes-com-4388 28 40 it -PRON- PRP www-nytimes-com-4388 28 41 ’s ’ VBZ www-nytimes-com-4388 28 42 not not RB www-nytimes-com-4388 28 43 . . . www-nytimes-com-4388 29 1 Trading trading NN www-nytimes-com-4388 29 2 data datum NNS www-nytimes-com-4388 29 3 provided provide VBN www-nytimes-com-4388 29 4 to to IN www-nytimes-com-4388 29 5 The the DT www-nytimes-com-4388 29 6 Times Times NNP www-nytimes-com-4388 29 7 also also RB www-nytimes-com-4388 29 8 shows show VBZ www-nytimes-com-4388 29 9 that that IN www-nytimes-com-4388 29 10 billions billion NNS www-nytimes-com-4388 29 11 of of IN www-nytimes-com-4388 29 12 dollars dollar NNS www-nytimes-com-4388 29 13 ’ ’ POS www-nytimes-com-4388 29 14 worth worth NN www-nytimes-com-4388 29 15 of of IN www-nytimes-com-4388 29 16 investments investment NNS www-nytimes-com-4388 29 17 from from IN www-nytimes-com-4388 29 18 customers customer NNS www-nytimes-com-4388 29 19 with with IN www-nytimes-com-4388 29 20 ties tie NNS www-nytimes-com-4388 29 21 to to IN www-nytimes-com-4388 29 22 the the DT www-nytimes-com-4388 29 23 United United NNP www-nytimes-com-4388 29 24 States States NNP www-nytimes-com-4388 29 25 have have VBP www-nytimes-com-4388 29 26 moved move VBN www-nytimes-com-4388 29 27 to to IN www-nytimes-com-4388 29 28 at at RB www-nytimes-com-4388 29 29 least least RBS www-nytimes-com-4388 29 30 one one CD www-nytimes-com-4388 29 31 of of IN www-nytimes-com-4388 29 32 these these DT www-nytimes-com-4388 29 33 global global JJ www-nytimes-com-4388 29 34 sites site NNS www-nytimes-com-4388 29 35 , , , www-nytimes-com-4388 29 36 despite despite IN www-nytimes-com-4388 29 37 the the DT www-nytimes-com-4388 29 38 ban ban NN www-nytimes-com-4388 29 39 . . . www-nytimes-com-4388 30 1 “ " `` www-nytimes-com-4388 30 2 I -PRON- PRP www-nytimes-com-4388 30 3 am be VBP www-nytimes-com-4388 30 4 not not RB www-nytimes-com-4388 30 5 saying say VBG www-nytimes-com-4388 30 6 this this DT www-nytimes-com-4388 30 7 is be VBZ www-nytimes-com-4388 30 8 going go VBG www-nytimes-com-4388 30 9 to to TO www-nytimes-com-4388 30 10 cause cause VB www-nytimes-com-4388 30 11 the the DT www-nytimes-com-4388 30 12 next next JJ www-nytimes-com-4388 30 13 financial financial JJ www-nytimes-com-4388 30 14 crisis crisis NN www-nytimes-com-4388 30 15 , , , www-nytimes-com-4388 30 16 ” " '' www-nytimes-com-4388 30 17 said say VBD www-nytimes-com-4388 30 18 Timothy Timothy NNP www-nytimes-com-4388 30 19 Massad Massad NNP www-nytimes-com-4388 30 20 , , , www-nytimes-com-4388 30 21 a a DT www-nytimes-com-4388 30 22 former former JJ www-nytimes-com-4388 30 23 chairman chairman NN www-nytimes-com-4388 30 24 of of IN www-nytimes-com-4388 30 25 the the DT www-nytimes-com-4388 30 26 Commodity Commodity NNP www-nytimes-com-4388 30 27 Futures Futures NNPS www-nytimes-com-4388 30 28 Trading Trading NNP www-nytimes-com-4388 30 29 Commission Commission NNP www-nytimes-com-4388 30 30 , , , www-nytimes-com-4388 30 31 the the DT www-nytimes-com-4388 30 32 federal federal JJ www-nytimes-com-4388 30 33 agency agency NN www-nytimes-com-4388 30 34 that that WDT www-nytimes-com-4388 30 35 regulates regulate VBZ www-nytimes-com-4388 30 36 derivatives derivative NNS www-nytimes-com-4388 30 37 trading trade VBG www-nytimes-com-4388 30 38 . . . www-nytimes-com-4388 31 1 “ " `` www-nytimes-com-4388 31 2 But but CC www-nytimes-com-4388 31 3 could could MD www-nytimes-com-4388 31 4 this this DT www-nytimes-com-4388 31 5 be be VB www-nytimes-com-4388 31 6 something something NN www-nytimes-com-4388 31 7 like like IN www-nytimes-com-4388 31 8 the the DT www-nytimes-com-4388 31 9 butterfly butterfly NN www-nytimes-com-4388 31 10 that that WDT www-nytimes-com-4388 31 11 flaps flap VBZ www-nytimes-com-4388 31 12 its -PRON- PRP$ www-nytimes-com-4388 31 13 wings wing NNS www-nytimes-com-4388 31 14 in in IN www-nytimes-com-4388 31 15 Brazil Brazil NNP www-nytimes-com-4388 31 16 that that WDT www-nytimes-com-4388 31 17 sets set VBZ www-nytimes-com-4388 31 18 off off RP www-nytimes-com-4388 31 19 a a DT www-nytimes-com-4388 31 20 tornado tornado NN www-nytimes-com-4388 31 21 in in IN www-nytimes-com-4388 31 22 Texas Texas NNP www-nytimes-com-4388 31 23 ? ? . www-nytimes-com-4388 31 24 ” " '' www-nytimes-com-4388 31 25 Mr. Mr. NNP www-nytimes-com-4388 31 26 Zhao Zhao NNP www-nytimes-com-4388 31 27 , , , www-nytimes-com-4388 31 28 the the DT www-nytimes-com-4388 31 29 founder founder NN www-nytimes-com-4388 31 30 of of IN www-nytimes-com-4388 31 31 Binance Binance NNP www-nytimes-com-4388 31 32 , , , www-nytimes-com-4388 31 33 conceded concede VBD www-nytimes-com-4388 31 34 , , , www-nytimes-com-4388 31 35 in in IN www-nytimes-com-4388 31 36 an an DT www-nytimes-com-4388 31 37 interview interview NN www-nytimes-com-4388 31 38 , , , www-nytimes-com-4388 31 39 that that IN www-nytimes-com-4388 31 40 “ " `` www-nytimes-com-4388 31 41 volatility volatility NN www-nytimes-com-4388 31 42 is be VBZ www-nytimes-com-4388 31 43 amplified amplify VBN www-nytimes-com-4388 31 44 by by IN www-nytimes-com-4388 31 45 the the DT www-nytimes-com-4388 31 46 leverage leverage NN www-nytimes-com-4388 31 47 . . . www-nytimes-com-4388 32 1 So so CC www-nytimes-com-4388 32 2 that that DT www-nytimes-com-4388 32 3 is be VBZ www-nytimes-com-4388 32 4 for for IN www-nytimes-com-4388 32 5 sure sure JJ www-nytimes-com-4388 32 6 . . . www-nytimes-com-4388 32 7 ” " '' www-nytimes-com-4388 32 8 But but CC www-nytimes-com-4388 32 9 he -PRON- PRP www-nytimes-com-4388 32 10 and and CC www-nytimes-com-4388 32 11 other other JJ www-nytimes-com-4388 32 12 industry industry NN www-nytimes-com-4388 32 13 advocates advocate NNS www-nytimes-com-4388 32 14 argue argue VBP www-nytimes-com-4388 32 15 that that IN www-nytimes-com-4388 32 16 highly highly RB www-nytimes-com-4388 32 17 leveraged leveraged JJ www-nytimes-com-4388 32 18 futures future NNS www-nytimes-com-4388 32 19 trading trading NN www-nytimes-com-4388 32 20 is be VBZ www-nytimes-com-4388 32 21 widespread widespread JJ www-nytimes-com-4388 32 22 on on IN www-nytimes-com-4388 32 23 Wall Wall NNP www-nytimes-com-4388 32 24 Street Street NNP www-nytimes-com-4388 32 25 and and CC www-nytimes-com-4388 32 26 foreign foreign JJ www-nytimes-com-4388 32 27 currency currency NN www-nytimes-com-4388 32 28 exchanges exchange NNS www-nytimes-com-4388 32 29 . . . www-nytimes-com-4388 33 1 Some some DT www-nytimes-com-4388 33 2 also also RB www-nytimes-com-4388 33 3 say say VBP www-nytimes-com-4388 33 4 they -PRON- PRP www-nytimes-com-4388 33 5 had have VBD www-nytimes-com-4388 33 6 to to TO www-nytimes-com-4388 33 7 relocate relocate VB www-nytimes-com-4388 33 8 because because IN www-nytimes-com-4388 33 9 U.S. U.S. NNP www-nytimes-com-4388 33 10 regulators regulator NNS www-nytimes-com-4388 33 11 have have VBP www-nytimes-com-4388 33 12 n’t not RB www-nytimes-com-4388 33 13 adequately adequately RB www-nytimes-com-4388 33 14 embraced embrace VBN www-nytimes-com-4388 33 15 these these DT www-nytimes-com-4388 33 16 creative creative JJ www-nytimes-com-4388 33 17 investment investment NN www-nytimes-com-4388 33 18 opportunities opportunity NNS www-nytimes-com-4388 33 19 . . . www-nytimes-com-4388 34 1 “ " `` www-nytimes-com-4388 34 2 This this DT www-nytimes-com-4388 34 3 is be VBZ www-nytimes-com-4388 34 4 not not RB www-nytimes-com-4388 34 5 going go VBG www-nytimes-com-4388 34 6 away away RB www-nytimes-com-4388 34 7 , , , www-nytimes-com-4388 34 8 ” " '' www-nytimes-com-4388 34 9 said say VBD www-nytimes-com-4388 34 10 Mark Mark NNP www-nytimes-com-4388 34 11 Cuban Cuban NNP www-nytimes-com-4388 34 12 , , , www-nytimes-com-4388 34 13 the the DT www-nytimes-com-4388 34 14 billionaire billionaire NN www-nytimes-com-4388 34 15 entrepreneur entrepreneur NN www-nytimes-com-4388 34 16 , , , www-nytimes-com-4388 34 17 television television NN www-nytimes-com-4388 34 18 personality personality NN www-nytimes-com-4388 34 19 and and CC www-nytimes-com-4388 34 20 cryptocurrency cryptocurrency NN www-nytimes-com-4388 34 21 enthusiast enthusiast NN www-nytimes-com-4388 34 22 who who WP www-nytimes-com-4388 34 23 is be VBZ www-nytimes-com-4388 34 24 also also RB www-nytimes-com-4388 34 25 a a DT www-nytimes-com-4388 34 26 backer backer NN www-nytimes-com-4388 34 27 in in IN www-nytimes-com-4388 34 28 a a DT www-nytimes-com-4388 34 29 fund fund NN www-nytimes-com-4388 34 30 that that WDT www-nytimes-com-4388 34 31 is be VBZ www-nytimes-com-4388 34 32 helping help VBG www-nytimes-com-4388 34 33 FTX FTX NNP www-nytimes-com-4388 34 34 raise raise VB www-nytimes-com-4388 34 35 capital capital NN www-nytimes-com-4388 34 36 . . . www-nytimes-com-4388 35 1 “ " `` www-nytimes-com-4388 35 2 But but CC www-nytimes-com-4388 35 3 we -PRON- PRP www-nytimes-com-4388 35 4 ’re be VBP www-nytimes-com-4388 35 5 losing lose VBG www-nytimes-com-4388 35 6 a a DT www-nytimes-com-4388 35 7 lot lot NN www-nytimes-com-4388 35 8 of of IN www-nytimes-com-4388 35 9 jobs job NNS www-nytimes-com-4388 35 10 and and CC www-nytimes-com-4388 35 11 a a DT www-nytimes-com-4388 35 12 lot lot NN www-nytimes-com-4388 35 13 of of IN www-nytimes-com-4388 35 14 financial financial JJ www-nytimes-com-4388 35 15 depth depth NN www-nytimes-com-4388 35 16 by by IN www-nytimes-com-4388 35 17 pushing push VBG www-nytimes-com-4388 35 18 it -PRON- PRP www-nytimes-com-4388 35 19 overseas overseas RB www-nytimes-com-4388 35 20 . . . www-nytimes-com-4388 35 21 ” " '' www-nytimes-com-4388 35 22 In in IN www-nytimes-com-4388 35 23 fact fact NN www-nytimes-com-4388 35 24 , , , www-nytimes-com-4388 35 25 FTX FTX NNP www-nytimes-com-4388 35 26 just just RB www-nytimes-com-4388 35 27 this this DT www-nytimes-com-4388 35 28 past past JJ www-nytimes-com-4388 35 29 week week NN www-nytimes-com-4388 35 30 raised raise VBD www-nytimes-com-4388 35 31 $ $ $ www-nytimes-com-4388 35 32 900 900 CD www-nytimes-com-4388 35 33 million million CD www-nytimes-com-4388 35 34 in in IN www-nytimes-com-4388 35 35 capital capital NN www-nytimes-com-4388 35 36 to to TO www-nytimes-com-4388 35 37 help help VB www-nytimes-com-4388 35 38 it -PRON- PRP www-nytimes-com-4388 35 39 expand expand VB www-nytimes-com-4388 35 40 its -PRON- PRP$ www-nytimes-com-4388 35 41 global global JJ www-nytimes-com-4388 35 42 operations operation NNS www-nytimes-com-4388 35 43 , , , www-nytimes-com-4388 35 44 and and CC www-nytimes-com-4388 35 45 it -PRON- PRP www-nytimes-com-4388 35 46 was be VBD www-nytimes-com-4388 35 47 valued value VBN www-nytimes-com-4388 35 48 at at IN www-nytimes-com-4388 35 49 $ $ $ www-nytimes-com-4388 35 50 18 18 CD www-nytimes-com-4388 35 51 billion billion CD www-nytimes-com-4388 35 52 . . . www-nytimes-com-4388 36 1 That that DT www-nytimes-com-4388 36 2 transaction transaction NN www-nytimes-com-4388 36 3 could could MD www-nytimes-com-4388 36 4 push push VB www-nytimes-com-4388 36 5 Mr. Mr. NNP www-nytimes-com-4388 36 6 Bankman Bankman NNP www-nytimes-com-4388 36 7 - - HYPH www-nytimes-com-4388 36 8 Fried Fried NNP www-nytimes-com-4388 36 9 ’s ’s POS www-nytimes-com-4388 36 10 wealth wealth NN www-nytimes-com-4388 36 11 to to IN www-nytimes-com-4388 36 12 $ $ $ www-nytimes-com-4388 36 13 16 16 CD www-nytimes-com-4388 36 14 billion billion CD www-nytimes-com-4388 36 15 , , , www-nytimes-com-4388 36 16 Forbes Forbes NNP www-nytimes-com-4388 36 17 estimated estimate VBD www-nytimes-com-4388 36 18 , , , www-nytimes-com-4388 36 19 making make VBG www-nytimes-com-4388 36 20 him -PRON- PRP www-nytimes-com-4388 36 21 the the DT www-nytimes-com-4388 36 22 “ " `` www-nytimes-com-4388 36 23 wealthiest wealthy JJS www-nytimes-com-4388 36 24 known know VBN www-nytimes-com-4388 36 25 crypto crypto NN www-nytimes-com-4388 36 26 billionaire billionaire NN www-nytimes-com-4388 36 27 , , , www-nytimes-com-4388 36 28 ” " '' www-nytimes-com-4388 36 29 given give VBN www-nytimes-com-4388 36 30 that that IN www-nytimes-com-4388 36 31 he -PRON- PRP www-nytimes-com-4388 36 32 owns own VBZ www-nytimes-com-4388 36 33 nearly nearly RB www-nytimes-com-4388 36 34 60 60 CD www-nytimes-com-4388 36 35 percent percent NN www-nytimes-com-4388 36 36 of of IN www-nytimes-com-4388 36 37 the the DT www-nytimes-com-4388 36 38 company company NN www-nytimes-com-4388 36 39 ’s ’s POS www-nytimes-com-4388 36 40 shares share NNS www-nytimes-com-4388 36 41 . . . www-nytimes-com-4388 37 1 Betting bet VBG www-nytimes-com-4388 37 2 on on IN www-nytimes-com-4388 37 3 the the DT www-nytimes-com-4388 37 4 future future JJ www-nytimes-com-4388 37 5 Mr. Mr. NNP www-nytimes-com-4388 37 6 Bankman Bankman NNP www-nytimes-com-4388 37 7 - - HYPH www-nytimes-com-4388 37 8 Fried Fried NNP www-nytimes-com-4388 37 9 was be VBD www-nytimes-com-4388 37 10 four four CD www-nytimes-com-4388 37 11 years year NNS www-nytimes-com-4388 37 12 out out IN www-nytimes-com-4388 37 13 of of IN www-nytimes-com-4388 37 14 Massachusetts Massachusetts NNP www-nytimes-com-4388 37 15 Institute Institute NNP www-nytimes-com-4388 37 16 of of IN www-nytimes-com-4388 37 17 Technology Technology NNP www-nytimes-com-4388 37 18 when when WRB www-nytimes-com-4388 37 19 he -PRON- PRP www-nytimes-com-4388 37 20 entered enter VBD www-nytimes-com-4388 37 21 the the DT www-nytimes-com-4388 37 22 cryptocurrency cryptocurrency NN www-nytimes-com-4388 37 23 industry industry NN www-nytimes-com-4388 37 24 . . . www-nytimes-com-4388 38 1 He -PRON- PRP www-nytimes-com-4388 38 2 was be VBD www-nytimes-com-4388 38 3 still still RB www-nytimes-com-4388 38 4 living live VBG www-nytimes-com-4388 38 5 in in IN www-nytimes-com-4388 38 6 California California NNP www-nytimes-com-4388 38 7 — — : www-nytimes-com-4388 38 8 where where WRB www-nytimes-com-4388 38 9 both both DT www-nytimes-com-4388 38 10 of of IN www-nytimes-com-4388 38 11 his -PRON- PRP$ www-nytimes-com-4388 38 12 parents parent NNS www-nytimes-com-4388 38 13 are be VBP www-nytimes-com-4388 38 14 law law NN www-nytimes-com-4388 38 15 professors professor NNS www-nytimes-com-4388 38 16 at at IN www-nytimes-com-4388 38 17 Stanford Stanford NNP www-nytimes-com-4388 38 18 — — : www-nytimes-com-4388 38 19 and and CC www-nytimes-com-4388 38 20 he -PRON- PRP www-nytimes-com-4388 38 21 noticed notice VBD www-nytimes-com-4388 38 22 that that IN www-nytimes-com-4388 38 23 Bitcoin Bitcoin NNP www-nytimes-com-4388 38 24 and and CC www-nytimes-com-4388 38 25 other other JJ www-nytimes-com-4388 38 26 tokens token NNS www-nytimes-com-4388 38 27 were be VBD www-nytimes-com-4388 38 28 at at IN www-nytimes-com-4388 38 29 times time NNS www-nytimes-com-4388 38 30 selling sell VBG www-nytimes-com-4388 38 31 for for IN www-nytimes-com-4388 38 32 different different JJ www-nytimes-com-4388 38 33 prices price NNS www-nytimes-com-4388 38 34 in in IN www-nytimes-com-4388 38 35 different different JJ www-nytimes-com-4388 38 36 nations nation NNS www-nytimes-com-4388 38 37 . . . www-nytimes-com-4388 39 1 It -PRON- PRP www-nytimes-com-4388 39 2 was be VBD www-nytimes-com-4388 39 3 an an DT www-nytimes-com-4388 39 4 open open JJ www-nytimes-com-4388 39 5 invitation invitation NN www-nytimes-com-4388 39 6 for for IN www-nytimes-com-4388 39 7 a a DT www-nytimes-com-4388 39 8 creative creative JJ www-nytimes-com-4388 39 9 player player NN 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www-nytimes-com-4388 39 35 higher high JJR www-nytimes-com-4388 39 36 price price NN www-nytimes-com-4388 39 37 in in IN www-nytimes-com-4388 39 38 Japan Japan NNP www-nytimes-com-4388 39 39 . . . www-nytimes-com-4388 40 1 That that DT www-nytimes-com-4388 40 2 ended end VBD www-nytimes-com-4388 40 3 up up RP www-nytimes-com-4388 40 4 being be VBG www-nytimes-com-4388 40 5 complicated complicate VBN www-nytimes-com-4388 40 6 . . . www-nytimes-com-4388 41 1 As as IN www-nytimes-com-4388 41 2 he -PRON- PRP www-nytimes-com-4388 41 3 tried try VBD www-nytimes-com-4388 41 4 to to TO www-nytimes-com-4388 41 5 quickly quickly RB www-nytimes-com-4388 41 6 transfer transfer VB www-nytimes-com-4388 41 7 large large JJ www-nytimes-com-4388 41 8 sums sum NNS www-nytimes-com-4388 41 9 of of IN www-nytimes-com-4388 41 10 money money NN www-nytimes-com-4388 41 11 , , , www-nytimes-com-4388 41 12 financial financial JJ www-nytimes-com-4388 41 13 institutions institution NNS www-nytimes-com-4388 41 14 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www-nytimes-com-4388 44 17 of of IN www-nytimes-com-4388 44 18 meetings meeting NNS www-nytimes-com-4388 44 19 and and CC www-nytimes-com-4388 44 20 his -PRON- PRP$ www-nytimes-com-4388 44 21 effectively effectively RB www-nytimes-com-4388 44 22 settling settle VBG www-nytimes-com-4388 44 23 in in IN www-nytimes-com-4388 44 24 Hong Hong NNP www-nytimes-com-4388 44 25 Kong Kong NNP www-nytimes-com-4388 44 26 . . . www-nytimes-com-4388 45 1 “ " `` www-nytimes-com-4388 45 2 I -PRON- PRP www-nytimes-com-4388 45 3 guess guess VBP www-nytimes-com-4388 45 4 there there EX www-nytimes-com-4388 45 5 ’s ’ VBZ www-nytimes-com-4388 45 6 a a DT www-nytimes-com-4388 45 7 point point NN www-nytimes-com-4388 45 8 at at IN www-nytimes-com-4388 45 9 which which WDT www-nytimes-com-4388 45 10 I -PRON- PRP www-nytimes-com-4388 45 11 canceled cancel VBD www-nytimes-com-4388 45 12 my -PRON- PRP$ www-nytimes-com-4388 45 13 lease lease NN www-nytimes-com-4388 45 14 back back RB www-nytimes-com-4388 45 15 in in IN www-nytimes-com-4388 45 16 the the DT www-nytimes-com-4388 45 17 Bay Bay NNP www-nytimes-com-4388 45 18 , , , www-nytimes-com-4388 45 19 ” " '' www-nytimes-com-4388 45 20 he -PRON- PRP www-nytimes-com-4388 45 21 recalled recall VBD www-nytimes-com-4388 45 22 . . . www-nytimes-com-4388 46 1 He -PRON- PRP www-nytimes-com-4388 46 2 decided decide VBD www-nytimes-com-4388 46 3 instead instead RB www-nytimes-com-4388 46 4 to to TO www-nytimes-com-4388 46 5 create create VB www-nytimes-com-4388 46 6 a a DT www-nytimes-com-4388 46 7 new new JJ www-nytimes-com-4388 46 8 company company NN www-nytimes-com-4388 46 9 , , , www-nytimes-com-4388 46 10 FTX FTX NNP www-nytimes-com-4388 46 11 , , , www-nytimes-com-4388 46 12 which which WDT www-nytimes-com-4388 46 13 specializes specialize VBZ www-nytimes-com-4388 46 14 in in IN www-nytimes-com-4388 46 15 derivatives derivative NNS www-nytimes-com-4388 46 16 . . . www-nytimes-com-4388 47 1 Image image NN www-nytimes-com-4388 47 2 Mr. Mr. NNP www-nytimes-com-4388 47 3 Bankman Bankman NNP www-nytimes-com-4388 47 4 - - HYPH www-nytimes-com-4388 47 5 Fried Fried NNP www-nytimes-com-4388 47 6 , , , www-nytimes-com-4388 47 7 29 29 CD www-nytimes-com-4388 47 8 , , , www-nytimes-com-4388 47 9 in in IN www-nytimes-com-4388 47 10 his -PRON- PRP$ www-nytimes-com-4388 47 11 office office NN www-nytimes-com-4388 47 12 in in IN www-nytimes-com-4388 47 13 Hong Hong NNP www-nytimes-com-4388 47 14 Kong Kong NNP www-nytimes-com-4388 47 15 in in IN www-nytimes-com-4388 47 16 January January NNP www-nytimes-com-4388 47 17 . . . www-nytimes-com-4388 48 1 He -PRON- PRP www-nytimes-com-4388 48 2 is be VBZ www-nytimes-com-4388 48 3 worth worth JJ www-nytimes-com-4388 48 4 an an DT www-nytimes-com-4388 48 5 estimated estimated JJ www-nytimes-com-4388 48 6 $ $ $ www-nytimes-com-4388 48 7 8 8 CD www-nytimes-com-4388 48 8 billion billion CD www-nytimes-com-4388 48 9 on on IN www-nytimes-com-4388 48 10 paper paper NN www-nytimes-com-4388 48 11 . . . www-nytimes-com-4388 48 12 Credit credit NN www-nytimes-com-4388 48 13 ... ... : www-nytimes-com-4388 48 14 Victor Victor NNP www-nytimes-com-4388 48 15 Llorente Llorente NNP www-nytimes-com-4388 48 16 In in IN www-nytimes-com-4388 48 17 traditional traditional JJ www-nytimes-com-4388 48 18 markets market NNS www-nytimes-com-4388 48 19 , , , www-nytimes-com-4388 48 20 derivatives derivative NNS www-nytimes-com-4388 48 21 are be VBP www-nytimes-com-4388 48 22 used use VBN www-nytimes-com-4388 48 23 to to TO www-nytimes-com-4388 48 24 help help VB www-nytimes-com-4388 48 25 farmers farmer NNS www-nytimes-com-4388 48 26 or or CC www-nytimes-com-4388 48 27 other other JJ www-nytimes-com-4388 48 28 businesses business NNS www-nytimes-com-4388 48 29 hedge hedge VBP www-nytimes-com-4388 48 30 against against IN www-nytimes-com-4388 48 31 price price NN www-nytimes-com-4388 48 32 changes change NNS www-nytimes-com-4388 48 33 in in IN www-nytimes-com-4388 48 34 commodities commodity NNS www-nytimes-com-4388 48 35 like like IN www-nytimes-com-4388 48 36 oil oil NN www-nytimes-com-4388 48 37 or or CC www-nytimes-com-4388 48 38 grain grain NN www-nytimes-com-4388 48 39 . . . www-nytimes-com-4388 49 1 There there EX www-nytimes-com-4388 49 2 is be VBZ www-nytimes-com-4388 49 3 some some DT www-nytimes-com-4388 49 4 trading trading NN www-nytimes-com-4388 49 5 of of IN www-nytimes-com-4388 49 6 cryptocurrency cryptocurrency NN www-nytimes-com-4388 49 7 derivatives derivative NNS www-nytimes-com-4388 49 8 in in IN www-nytimes-com-4388 49 9 the the DT www-nytimes-com-4388 49 10 United United NNP www-nytimes-com-4388 49 11 States States NNP www-nytimes-com-4388 49 12 , , , www-nytimes-com-4388 49 13 on on IN www-nytimes-com-4388 49 14 platforms platform NNS www-nytimes-com-4388 49 15 like like IN www-nytimes-com-4388 49 16 the the DT www-nytimes-com-4388 49 17 Chicago Chicago NNP www-nytimes-com-4388 49 18 Mercantile Mercantile NNP www-nytimes-com-4388 49 19 Exchange Exchange NNP www-nytimes-com-4388 49 20 , , , www-nytimes-com-4388 49 21 which which WDT www-nytimes-com-4388 49 22 has have VBZ www-nytimes-com-4388 49 23 long long RB www-nytimes-com-4388 49 24 offered offer VBN www-nytimes-com-4388 49 25 commodities commodity NNS www-nytimes-com-4388 49 26 options option NNS www-nytimes-com-4388 49 27 and and CC www-nytimes-com-4388 49 28 futures future NNS www-nytimes-com-4388 49 29 in in IN www-nytimes-com-4388 49 30 things thing NNS www-nytimes-com-4388 49 31 as as RB www-nytimes-com-4388 49 32 diverse diverse JJ www-nytimes-com-4388 49 33 as as IN www-nytimes-com-4388 49 34 agriculture agriculture NN www-nytimes-com-4388 49 35 , , , www-nytimes-com-4388 49 36 energy energy NN www-nytimes-com-4388 49 37 and and CC www-nytimes-com-4388 49 38 metals metal NNS www-nytimes-com-4388 49 39 . . . www-nytimes-com-4388 50 1 But but CC www-nytimes-com-4388 50 2 the the DT www-nytimes-com-4388 50 3 CME CME NNP www-nytimes-com-4388 50 4 is be VBZ www-nytimes-com-4388 50 5 a a DT www-nytimes-com-4388 50 6 classic classic JJ www-nytimes-com-4388 50 7 exchange exchange NN www-nytimes-com-4388 50 8 that that WDT www-nytimes-com-4388 50 9 has have VBZ www-nytimes-com-4388 50 10 greater great JJR www-nytimes-com-4388 50 11 restrictions restriction NNS www-nytimes-com-4388 50 12 — — : www-nytimes-com-4388 50 13 and and CC www-nytimes-com-4388 50 14 federal federal JJ www-nytimes-com-4388 50 15 government government NN www-nytimes-com-4388 50 16 oversight oversight NN www-nytimes-com-4388 50 17 — — : www-nytimes-com-4388 50 18 with with IN www-nytimes-com-4388 50 19 lower low JJR www-nytimes-com-4388 50 20 leverage leverage NN www-nytimes-com-4388 50 21 caps cap NNS www-nytimes-com-4388 50 22 available available JJ www-nytimes-com-4388 50 23 only only RB www-nytimes-com-4388 50 24 to to IN www-nytimes-com-4388 50 25 professional professional JJ www-nytimes-com-4388 50 26 traders trader NNS www-nytimes-com-4388 50 27 . . . www-nytimes-com-4388 51 1 Cryptocurrency cryptocurrency NN www-nytimes-com-4388 51 2 innovators innovator NNS www-nytimes-com-4388 51 3 like like IN www-nytimes-com-4388 51 4 Arthur Arthur NNP www-nytimes-com-4388 51 5 Hayes Hayes NNP www-nytimes-com-4388 51 6 , , , www-nytimes-com-4388 51 7 one one CD www-nytimes-com-4388 51 8 of of IN www-nytimes-com-4388 51 9 the the DT www-nytimes-com-4388 51 10 founders founder NNS www-nytimes-com-4388 51 11 of of IN www-nytimes-com-4388 51 12 BitMEX BitMEX NNP www-nytimes-com-4388 51 13 — — : www-nytimes-com-4388 51 14 short short JJ www-nytimes-com-4388 51 15 for for IN www-nytimes-com-4388 51 16 the the DT www-nytimes-com-4388 51 17 Bitcoin Bitcoin NNP www-nytimes-com-4388 51 18 Mercantile Mercantile NNP www-nytimes-com-4388 51 19 Exchange Exchange NNP www-nytimes-com-4388 51 20 — — : www-nytimes-com-4388 51 21 took take VBD www-nytimes-com-4388 51 22 this this DT www-nytimes-com-4388 51 23 classic classic JJ www-nytimes-com-4388 51 24 approach approach NN www-nytimes-com-4388 51 25 and and CC www-nytimes-com-4388 51 26 turned turn VBD www-nytimes-com-4388 51 27 it -PRON- PRP www-nytimes-com-4388 51 28 into into IN www-nytimes-com-4388 51 29 a a DT www-nytimes-com-4388 51 30 much much RB www-nytimes-com-4388 51 31 more more RBR www-nytimes-com-4388 51 32 lucrative lucrative JJ www-nytimes-com-4388 51 33 idea idea NN www-nytimes-com-4388 51 34 , , , www-nytimes-com-4388 51 35 at at IN www-nytimes-com-4388 51 36 least least JJS www-nytimes-com-4388 51 37 for for IN www-nytimes-com-4388 51 38 the the DT www-nytimes-com-4388 51 39 platforms platform NNS www-nytimes-com-4388 51 40 . . . www-nytimes-com-4388 52 1 BitMEX BitMEX NNP www-nytimes-com-4388 52 2 began begin VBD www-nytimes-com-4388 52 3 what what WP www-nytimes-com-4388 52 4 Mr. Mr. NNP www-nytimes-com-4388 52 5 Hayes Hayes NNP www-nytimes-com-4388 52 6 called call VBD www-nytimes-com-4388 52 7 the the DT www-nytimes-com-4388 52 8 perpetual perpetual JJ www-nytimes-com-4388 52 9 swap swap NN www-nytimes-com-4388 52 10 — — : www-nytimes-com-4388 52 11 a a DT www-nytimes-com-4388 52 12 bet bet NN www-nytimes-com-4388 52 13 on on IN www-nytimes-com-4388 52 14 a a DT www-nytimes-com-4388 52 15 future future JJ www-nytimes-com-4388 52 16 price price NN www-nytimes-com-4388 52 17 change change NN www-nytimes-com-4388 52 18 that that WDT www-nytimes-com-4388 52 19 does do VBZ www-nytimes-com-4388 52 20 not not RB www-nytimes-com-4388 52 21 expire expire VB www-nytimes-com-4388 52 22 — — : www-nytimes-com-4388 52 23 and and CC www-nytimes-com-4388 52 24 eventually eventually RB www-nytimes-com-4388 52 25 offered offer VBD www-nytimes-com-4388 52 26 100 100 CD www-nytimes-com-4388 52 27 times time NNS www-nytimes-com-4388 52 28 leverage leverage NN www-nytimes-com-4388 52 29 . . . www-nytimes-com-4388 53 1 That that DT www-nytimes-com-4388 53 2 meant mean VBD www-nytimes-com-4388 53 3 a a DT www-nytimes-com-4388 53 4 $ $ $ www-nytimes-com-4388 53 5 1,000 1,000 CD www-nytimes-com-4388 53 6 investment investment NN www-nytimes-com-4388 53 7 could could MD www-nytimes-com-4388 53 8 be be VB www-nytimes-com-4388 53 9 instantly instantly RB www-nytimes-com-4388 53 10 translated translate VBN www-nytimes-com-4388 53 11 into into IN www-nytimes-com-4388 53 12 a a DT www-nytimes-com-4388 53 13 $ $ $ www-nytimes-com-4388 53 14 100,000 100,000 CD www-nytimes-com-4388 53 15 bet bet NN www-nytimes-com-4388 53 16 on on IN www-nytimes-com-4388 53 17 the the DT www-nytimes-com-4388 53 18 future future JJ www-nytimes-com-4388 53 19 price price NN www-nytimes-com-4388 53 20 of of IN www-nytimes-com-4388 53 21 Bitcoin Bitcoin NNP www-nytimes-com-4388 53 22 . . . www-nytimes-com-4388 54 1 From from IN www-nytimes-com-4388 54 2 inception inception NN www-nytimes-com-4388 54 3 , , , www-nytimes-com-4388 54 4 BitMEX BitMEX NNP www-nytimes-com-4388 54 5 was be VBD www-nytimes-com-4388 54 6 explicitly explicitly RB www-nytimes-com-4388 54 7 intended intend VBN www-nytimes-com-4388 54 8 to to TO www-nytimes-com-4388 54 9 attract attract VB www-nytimes-com-4388 54 10 not not RB www-nytimes-com-4388 54 11 only only RB www-nytimes-com-4388 54 12 professional professional JJ www-nytimes-com-4388 54 13 traders trader NNS www-nytimes-com-4388 54 14 but but CC www-nytimes-com-4388 54 15 also also RB www-nytimes-com-4388 54 16 retail retail VBP www-nytimes-com-4388 54 17 investors investor NNS www-nytimes-com-4388 54 18 with with IN www-nytimes-com-4388 54 19 a a DT www-nytimes-com-4388 54 20 taste taste NN www-nytimes-com-4388 54 21 for for IN www-nytimes-com-4388 54 22 gambling gambling NN www-nytimes-com-4388 54 23 and and CC www-nytimes-com-4388 54 24 gamers gamer NNS www-nytimes-com-4388 54 25 inclined incline VBN www-nytimes-com-4388 54 26 to to IN www-nytimes-com-4388 54 27 risky risky JJ www-nytimes-com-4388 54 28 play play NN www-nytimes-com-4388 54 29 , , , www-nytimes-com-4388 54 30 as as IN www-nytimes-com-4388 54 31 Mr. Mr. NNP www-nytimes-com-4388 54 32 Hayes Hayes NNP www-nytimes-com-4388 54 33 explained explain VBD www-nytimes-com-4388 54 34 in in IN www-nytimes-com-4388 54 35 an an DT www-nytimes-com-4388 54 36 industry industry NN www-nytimes-com-4388 54 37 talk talk NN www-nytimes-com-4388 54 38 in in IN www-nytimes-com-4388 54 39 2016 2016 CD www-nytimes-com-4388 54 40 . . . www-nytimes-com-4388 55 1 “ " `` www-nytimes-com-4388 55 2 There there EX www-nytimes-com-4388 55 3 are be VBP www-nytimes-com-4388 55 4 people people NNS www-nytimes-com-4388 55 5 who who WP www-nytimes-com-4388 55 6 offer offer VBP www-nytimes-com-4388 55 7 similar similar JJ www-nytimes-com-4388 55 8 types type NNS www-nytimes-com-4388 55 9 of of IN www-nytimes-com-4388 55 10 products product NNS www-nytimes-com-4388 55 11 but but CC www-nytimes-com-4388 55 12 are be VBP www-nytimes-com-4388 55 13 focusing focus VBG www-nytimes-com-4388 55 14 on on IN www-nytimes-com-4388 55 15 degenerate degenerate JJ www-nytimes-com-4388 55 16 gamblers gambler NNS www-nytimes-com-4388 55 17 , , , www-nytimes-com-4388 55 18 a.k.a a.k.a JJ www-nytimes-com-4388 55 19 . . . www-nytimes-com-4388 56 1 retail retail JJ www-nytimes-com-4388 56 2 traders trader NNS www-nytimes-com-4388 56 3 in in IN www-nytimes-com-4388 56 4 Bitcoin Bitcoin NNP www-nytimes-com-4388 56 5 , , , www-nytimes-com-4388 56 6 ” " '' www-nytimes-com-4388 56 7 he -PRON- PRP www-nytimes-com-4388 56 8 said say VBD www-nytimes-com-4388 56 9 . . . www-nytimes-com-4388 57 1 “ " `` www-nytimes-com-4388 57 2 So so RB www-nytimes-com-4388 57 3 why why WRB www-nytimes-com-4388 57 4 do do VBP www-nytimes-com-4388 57 5 n’t not RB www-nytimes-com-4388 57 6 we -PRON- PRP www-nytimes-com-4388 57 7 do do VBP www-nytimes-com-4388 57 8 the the DT www-nytimes-com-4388 57 9 same same JJ www-nytimes-com-4388 57 10 ? ? . www-nytimes-com-4388 57 11 ” " '' www-nytimes-com-4388 57 12 The the DT www-nytimes-com-4388 57 13 exchange exchange NN www-nytimes-com-4388 57 14 targeted target VBD www-nytimes-com-4388 57 15 social social JJ www-nytimes-com-4388 57 16 media medium NNS www-nytimes-com-4388 57 17 advertising advertising NN www-nytimes-com-4388 57 18 to to IN www-nytimes-com-4388 57 19 potential potential JJ www-nytimes-com-4388 57 20 customers customer NNS www-nytimes-com-4388 57 21 based base VBN www-nytimes-com-4388 57 22 in in IN www-nytimes-com-4388 57 23 the the DT www-nytimes-com-4388 57 24 United United NNP www-nytimes-com-4388 57 25 States States NNP www-nytimes-com-4388 57 26 and and CC www-nytimes-com-4388 57 27 boasted boast VBD www-nytimes-com-4388 57 28 that that DT www-nytimes-com-4388 57 29 to to TO www-nytimes-com-4388 57 30 “ " `` www-nytimes-com-4388 57 31 sign sign VB www-nytimes-com-4388 57 32 up up RP www-nytimes-com-4388 57 33 takes take VBZ www-nytimes-com-4388 57 34 less less JJR www-nytimes-com-4388 57 35 than than IN www-nytimes-com-4388 57 36 30 30 CD www-nytimes-com-4388 57 37 seconds second NNS www-nytimes-com-4388 57 38 . . . www-nytimes-com-4388 57 39 ” " '' www-nytimes-com-4388 57 40 At at IN www-nytimes-com-4388 57 41 least least JJS www-nytimes-com-4388 57 42 initially initially RB www-nytimes-com-4388 57 43 , , , www-nytimes-com-4388 57 44 there there EX www-nytimes-com-4388 57 45 was be VBD www-nytimes-com-4388 57 46 minimal minimal JJ www-nytimes-com-4388 57 47 effort effort NN www-nytimes-com-4388 57 48 on on IN www-nytimes-com-4388 57 49 the the DT www-nytimes-com-4388 57 50 part part NN www-nytimes-com-4388 57 51 of of IN www-nytimes-com-4388 57 52 some some DT www-nytimes-com-4388 57 53 exchanges exchange NNS www-nytimes-com-4388 57 54 like like IN www-nytimes-com-4388 57 55 BitMEX BitMEX NNP www-nytimes-com-4388 57 56 to to TO www-nytimes-com-4388 57 57 screen screen VB www-nytimes-com-4388 57 58 investors investor NNS www-nytimes-com-4388 57 59 to to TO www-nytimes-com-4388 57 60 determine determine VB www-nytimes-com-4388 57 61 their -PRON- PRP$ www-nytimes-com-4388 57 62 true true JJ www-nytimes-com-4388 57 63 identities identity NNS www-nytimes-com-4388 57 64 , , , www-nytimes-com-4388 57 65 as as IN www-nytimes-com-4388 57 66 banks bank NNS www-nytimes-com-4388 57 67 and and CC www-nytimes-com-4388 57 68 other other JJ www-nytimes-com-4388 57 69 trading trading NN www-nytimes-com-4388 57 70 companies company NNS www-nytimes-com-4388 57 71 in in IN www-nytimes-com-4388 57 72 the the DT www-nytimes-com-4388 57 73 United United NNP www-nytimes-com-4388 57 74 States States NNP www-nytimes-com-4388 57 75 are be VBP www-nytimes-com-4388 57 76 required require VBN www-nytimes-com-4388 57 77 to to TO www-nytimes-com-4388 57 78 do do VB www-nytimes-com-4388 57 79 , , , www-nytimes-com-4388 57 80 or or CC www-nytimes-com-4388 57 81 to to TO www-nytimes-com-4388 57 82 confirm confirm VB www-nytimes-com-4388 57 83 their -PRON- PRP$ www-nytimes-com-4388 57 84 actual actual JJ www-nytimes-com-4388 57 85 locations location NNS www-nytimes-com-4388 57 86 , , , www-nytimes-com-4388 57 87 despite despite IN www-nytimes-com-4388 57 88 the the DT www-nytimes-com-4388 57 89 ban ban NN www-nytimes-com-4388 57 90 on on IN www-nytimes-com-4388 57 91 U.S. U.S. NNP www-nytimes-com-4388 57 92 participants participant NNS www-nytimes-com-4388 57 93 . . . www-nytimes-com-4388 58 1 Many many JJ www-nytimes-com-4388 58 2 of of IN www-nytimes-com-4388 58 3 the the DT www-nytimes-com-4388 58 4 platforms platform NNS www-nytimes-com-4388 58 5 , , , www-nytimes-com-4388 58 6 including include VBG www-nytimes-com-4388 58 7 BitMEX BitMEX NNP www-nytimes-com-4388 58 8 and and CC www-nytimes-com-4388 58 9 Binance Binance NNP www-nytimes-com-4388 58 10 , , , www-nytimes-com-4388 58 11 have have VBP www-nytimes-com-4388 58 12 recently recently RB www-nytimes-com-4388 58 13 tightened tighten VBN www-nytimes-com-4388 58 14 enforcement enforcement NN www-nytimes-com-4388 58 15 to to TO www-nytimes-com-4388 58 16 try try VB www-nytimes-com-4388 58 17 to to TO www-nytimes-com-4388 58 18 curb curb VB www-nytimes-com-4388 58 19 trades trade NNS www-nytimes-com-4388 58 20 by by IN www-nytimes-com-4388 58 21 U.S. U.S. NNP www-nytimes-com-4388 58 22 investors investor NNS www-nytimes-com-4388 58 23 . . . www-nytimes-com-4388 59 1 This this DT www-nytimes-com-4388 59 2 came come VBD www-nytimes-com-4388 59 3 after after IN www-nytimes-com-4388 59 4 the the DT www-nytimes-com-4388 59 5 Justice Justice NNP www-nytimes-com-4388 59 6 Department Department NNP www-nytimes-com-4388 59 7 filed file VBD www-nytimes-com-4388 59 8 charges charge NNS www-nytimes-com-4388 59 9 against against IN www-nytimes-com-4388 59 10 Mr. Mr. NNP www-nytimes-com-4388 59 11 Hayes Hayes NNP www-nytimes-com-4388 59 12 late late RB www-nytimes-com-4388 59 13 last last JJ www-nytimes-com-4388 59 14 year year NN www-nytimes-com-4388 59 15 , , , www-nytimes-com-4388 59 16 with with IN www-nytimes-com-4388 59 17 the the DT www-nytimes-com-4388 59 18 government government NN www-nytimes-com-4388 59 19 asserting assert VBG www-nytimes-com-4388 59 20 that that IN www-nytimes-com-4388 59 21 he -PRON- PRP www-nytimes-com-4388 59 22 and and CC www-nytimes-com-4388 59 23 other other JJ www-nytimes-com-4388 59 24 BitMEX BitMEX NNP www-nytimes-com-4388 59 25 executives executive NNS www-nytimes-com-4388 59 26 were be VBD www-nytimes-com-4388 59 27 illegally illegally RB www-nytimes-com-4388 59 28 operating operate VBG www-nytimes-com-4388 59 29 a a DT www-nytimes-com-4388 59 30 cryptocurrency cryptocurrency NN www-nytimes-com-4388 59 31 exchange exchange NN www-nytimes-com-4388 59 32 that that WDT www-nytimes-com-4388 59 33 handled handle VBD www-nytimes-com-4388 59 34 about about IN www-nytimes-com-4388 59 35 $ $ $ www-nytimes-com-4388 59 36 11 11 CD www-nytimes-com-4388 59 37 billion billion CD www-nytimes-com-4388 59 38 in in IN www-nytimes-com-4388 59 39 transactions transaction NNS www-nytimes-com-4388 59 40 involving involve VBG www-nytimes-com-4388 59 41 at at RB www-nytimes-com-4388 59 42 least least RBS www-nytimes-com-4388 59 43 85,000 85,000 CD www-nytimes-com-4388 59 44 user user NN www-nytimes-com-4388 59 45 accounts account VBZ www-nytimes-com-4388 59 46 with with IN www-nytimes-com-4388 59 47 ties tie NNS www-nytimes-com-4388 59 48 to to IN www-nytimes-com-4388 59 49 the the DT www-nytimes-com-4388 59 50 United United NNP www-nytimes-com-4388 59 51 States States NNP www-nytimes-com-4388 59 52 . . . www-nytimes-com-4388 60 1 He -PRON- PRP www-nytimes-com-4388 60 2 has have VBZ www-nytimes-com-4388 60 3 since since IN www-nytimes-com-4388 60 4 left leave VBN www-nytimes-com-4388 60 5 the the DT www-nytimes-com-4388 60 6 company company NN www-nytimes-com-4388 60 7 . . . www-nytimes-com-4388 61 1 But but CC www-nytimes-com-4388 61 2 the the DT www-nytimes-com-4388 61 3 business business NN www-nytimes-com-4388 61 4 model model NN www-nytimes-com-4388 61 5 he -PRON- PRP www-nytimes-com-4388 61 6 helped help VBD www-nytimes-com-4388 61 7 create create VB www-nytimes-com-4388 61 8 has have VBZ www-nytimes-com-4388 61 9 only only RB www-nytimes-com-4388 61 10 grown grow VBN www-nytimes-com-4388 61 11 in in IN www-nytimes-com-4388 61 12 scale scale NN www-nytimes-com-4388 61 13 . . . www-nytimes-com-4388 62 1 Image image NN www-nytimes-com-4388 62 2 Arthur Arthur NNP www-nytimes-com-4388 62 3 Hayes Hayes NNP www-nytimes-com-4388 62 4 ’s ’s POS www-nytimes-com-4388 62 5 company company NN www-nytimes-com-4388 62 6 , , , www-nytimes-com-4388 62 7 BitMEX BitMEX NNP www-nytimes-com-4388 62 8 , , , www-nytimes-com-4388 62 9 was be VBD www-nytimes-com-4388 62 10 explicitly explicitly RB www-nytimes-com-4388 62 11 intended intend VBN www-nytimes-com-4388 62 12 to to TO www-nytimes-com-4388 62 13 attract attract VB www-nytimes-com-4388 62 14 not not RB www-nytimes-com-4388 62 15 only only RB www-nytimes-com-4388 62 16 professional professional JJ www-nytimes-com-4388 62 17 traders trader NNS www-nytimes-com-4388 62 18 but but CC www-nytimes-com-4388 62 19 also also RB www-nytimes-com-4388 62 20 retail retail VBP www-nytimes-com-4388 62 21 investors investor NNS www-nytimes-com-4388 62 22 with with IN www-nytimes-com-4388 62 23 a a DT www-nytimes-com-4388 62 24 taste taste NN www-nytimes-com-4388 62 25 for for IN www-nytimes-com-4388 62 26 gambling gambling NN www-nytimes-com-4388 62 27 and and CC www-nytimes-com-4388 62 28 gamers gamer NNS www-nytimes-com-4388 62 29 inclined incline VBN www-nytimes-com-4388 62 30 to to IN www-nytimes-com-4388 62 31 risky risky JJ www-nytimes-com-4388 62 32 play play NN www-nytimes-com-4388 62 33 . . . www-nytimes-com-4388 62 34 Credit credit NN www-nytimes-com-4388 62 35 ... ... NFP www-nytimes-com-4388 62 36 Eugene Eugene NNP www-nytimes-com-4388 62 37 Gologursky Gologursky NNP www-nytimes-com-4388 62 38 / / SYM www-nytimes-com-4388 62 39 Getty Getty NNP www-nytimes-com-4388 62 40 Images Images NNPS www-nytimes-com-4388 62 41 FTX FTX NNP www-nytimes-com-4388 62 42 and and CC www-nytimes-com-4388 62 43 Binance binance NN www-nytimes-com-4388 62 44 are be VBP www-nytimes-com-4388 62 45 among among IN www-nytimes-com-4388 62 46 more more JJR www-nytimes-com-4388 62 47 than than IN www-nytimes-com-4388 62 48 a a DT www-nytimes-com-4388 62 49 dozen dozen NN www-nytimes-com-4388 62 50 global global JJ www-nytimes-com-4388 62 51 cryptocurrency cryptocurrency NN www-nytimes-com-4388 62 52 platforms platform NNS www-nytimes-com-4388 62 53 — — : www-nytimes-com-4388 62 54 most most JJS www-nytimes-com-4388 62 55 of of IN www-nytimes-com-4388 62 56 them -PRON- PRP www-nytimes-com-4388 62 57 based base VBN www-nytimes-com-4388 62 58 in in IN www-nytimes-com-4388 62 59 Asia Asia NNP www-nytimes-com-4388 62 60 — — : www-nytimes-com-4388 62 61 that that IN www-nytimes-com-4388 62 62 now now RB www-nytimes-com-4388 62 63 offer offer VBP www-nytimes-com-4388 62 64 perpetual perpetual JJ www-nytimes-com-4388 62 65 swaps swap NNS www-nytimes-com-4388 62 66 . . . www-nytimes-com-4388 63 1 FTX FTX NNP www-nytimes-com-4388 63 2 alone alone RB www-nytimes-com-4388 63 3 has have VBZ www-nytimes-com-4388 63 4 one one CD www-nytimes-com-4388 63 5 million million CD www-nytimes-com-4388 63 6 users user NNS www-nytimes-com-4388 63 7 across across IN www-nytimes-com-4388 63 8 the the DT www-nytimes-com-4388 63 9 world world NN www-nytimes-com-4388 63 10 and and CC www-nytimes-com-4388 63 11 handles handle NNS www-nytimes-com-4388 63 12 as as RB www-nytimes-com-4388 63 13 much much JJ www-nytimes-com-4388 63 14 as as IN www-nytimes-com-4388 63 15 $ $ $ www-nytimes-com-4388 63 16 20 20 CD www-nytimes-com-4388 63 17 billion billion CD www-nytimes-com-4388 63 18 a a DT www-nytimes-com-4388 63 19 day day NN www-nytimes-com-4388 63 20 in in IN www-nytimes-com-4388 63 21 transactions transaction NNS www-nytimes-com-4388 63 22 , , , www-nytimes-com-4388 63 23 most most JJS www-nytimes-com-4388 63 24 of of IN www-nytimes-com-4388 63 25 them -PRON- PRP www-nytimes-com-4388 63 26 derivatives derivative VBZ www-nytimes-com-4388 63 27 trades trade NNS www-nytimes-com-4388 63 28 . . . www-nytimes-com-4388 64 1 Like like IN www-nytimes-com-4388 64 2 their -PRON- PRP$ www-nytimes-com-4388 64 3 customers customer NNS www-nytimes-com-4388 64 4 , , , www-nytimes-com-4388 64 5 the the DT www-nytimes-com-4388 64 6 platforms platform NNS www-nytimes-com-4388 64 7 compete compete VBP www-nytimes-com-4388 64 8 . . . www-nytimes-com-4388 65 1 Mr. Mr. NNP www-nytimes-com-4388 65 2 Bankman Bankman NNP www-nytimes-com-4388 65 3 - - HYPH www-nytimes-com-4388 65 4 Fried Fried NNP www-nytimes-com-4388 65 5 from from IN www-nytimes-com-4388 65 6 FTX FTX NNP www-nytimes-com-4388 65 7 , , , www-nytimes-com-4388 65 8 looking look VBG www-nytimes-com-4388 65 9 to to TO www-nytimes-com-4388 65 10 out out RB www-nytimes-com-4388 65 11 promote promote VB www-nytimes-com-4388 65 12 BitMEX BitMEX NNP www-nytimes-com-4388 65 13 , , , www-nytimes-com-4388 65 14 moved move VBD www-nytimes-com-4388 65 15 to to TO www-nytimes-com-4388 65 16 offer offer VB www-nytimes-com-4388 65 17 up up IN www-nytimes-com-4388 65 18 to to TO www-nytimes-com-4388 65 19 101 101 CD www-nytimes-com-4388 65 20 times time NNS www-nytimes-com-4388 65 21 leverage leverage NN www-nytimes-com-4388 65 22 on on IN www-nytimes-com-4388 65 23 derivatives derivative NNS www-nytimes-com-4388 65 24 trades trade NNS www-nytimes-com-4388 65 25 . . . www-nytimes-com-4388 66 1 Mr. Mr. NNP www-nytimes-com-4388 66 2 Zhao Zhao NNP www-nytimes-com-4388 66 3 from from IN www-nytimes-com-4388 66 4 Binance Binance NNP www-nytimes-com-4388 66 5 then then RB www-nytimes-com-4388 66 6 bested best VBD www-nytimes-com-4388 66 7 them -PRON- PRP www-nytimes-com-4388 66 8 both both CC www-nytimes-com-4388 66 9 by by IN www-nytimes-com-4388 66 10 taking take VBG www-nytimes-com-4388 66 11 it -PRON- PRP www-nytimes-com-4388 66 12 to to IN www-nytimes-com-4388 66 13 125 125 CD www-nytimes-com-4388 66 14 . . . www-nytimes-com-4388 67 1 Losses loss NNS www-nytimes-com-4388 67 2 for for IN www-nytimes-com-4388 67 3 traders trader NNS www-nytimes-com-4388 67 4 can can MD www-nytimes-com-4388 67 5 translate translate VB www-nytimes-com-4388 67 6 into into IN www-nytimes-com-4388 67 7 big big JJ www-nytimes-com-4388 67 8 gains gain NNS www-nytimes-com-4388 67 9 for for IN www-nytimes-com-4388 67 10 exchanges exchange NNS www-nytimes-com-4388 67 11 . . . www-nytimes-com-4388 68 1 The the DT www-nytimes-com-4388 68 2 platforms platform NNS www-nytimes-com-4388 68 3 earn earn VBP www-nytimes-com-4388 68 4 a a DT www-nytimes-com-4388 68 5 transaction transaction NN www-nytimes-com-4388 68 6 fee fee NN www-nytimes-com-4388 68 7 based base VBN www-nytimes-com-4388 68 8 on on IN www-nytimes-com-4388 68 9 the the DT www-nytimes-com-4388 68 10 forced force VBN www-nytimes-com-4388 68 11 sales sale NNS www-nytimes-com-4388 68 12 caused cause VBN www-nytimes-com-4388 68 13 when when WRB www-nytimes-com-4388 68 14 the the DT www-nytimes-com-4388 68 15 price price NN www-nytimes-com-4388 68 16 of of IN www-nytimes-com-4388 68 17 the the DT www-nytimes-com-4388 68 18 underlying underlying JJ www-nytimes-com-4388 68 19 cryptocurrency cryptocurrency NN www-nytimes-com-4388 68 20 moves move NNS www-nytimes-com-4388 68 21 against against IN www-nytimes-com-4388 68 22 the the DT www-nytimes-com-4388 68 23 trader trader NN www-nytimes-com-4388 68 24 . . . www-nytimes-com-4388 69 1 The the DT www-nytimes-com-4388 69 2 crash crash NN www-nytimes-com-4388 69 3 in in IN www-nytimes-com-4388 69 4 May May NNP www-nytimes-com-4388 69 5 was be VBD www-nytimes-com-4388 69 6 started start VBN www-nytimes-com-4388 69 7 by by IN www-nytimes-com-4388 69 8 regulatory regulatory JJ www-nytimes-com-4388 69 9 rumblings rumbling NNS www-nytimes-com-4388 69 10 in in IN www-nytimes-com-4388 69 11 China China NNP www-nytimes-com-4388 69 12 and and CC www-nytimes-com-4388 69 13 a a DT www-nytimes-com-4388 69 14 cryptocurrency cryptocurrency NN www-nytimes-com-4388 69 15 move move NN www-nytimes-com-4388 69 16 by by IN www-nytimes-com-4388 69 17 Elon Elon NNP www-nytimes-com-4388 69 18 Musk Musk NNP www-nytimes-com-4388 69 19 . . . www-nytimes-com-4388 70 1 But but CC www-nytimes-com-4388 70 2 liquidations liquidation NNS www-nytimes-com-4388 70 3 then then RB www-nytimes-com-4388 70 4 helped help VBD www-nytimes-com-4388 70 5 propel propel VB www-nytimes-com-4388 70 6 it -PRON- PRP www-nytimes-com-4388 70 7 . . . www-nytimes-com-4388 71 1 Some some DT www-nytimes-com-4388 71 2 executives executive NNS www-nytimes-com-4388 71 3 , , , www-nytimes-com-4388 71 4 like like IN www-nytimes-com-4388 71 5 Mr. Mr. NNP www-nytimes-com-4388 71 6 Bankman Bankman NNP www-nytimes-com-4388 71 7 - - HYPH www-nytimes-com-4388 71 8 Fried Fried NNP www-nytimes-com-4388 71 9 , , , www-nytimes-com-4388 71 10 also also RB www-nytimes-com-4388 71 11 own own VBP www-nytimes-com-4388 71 12 related related JJ www-nytimes-com-4388 71 13 companies company NNS www-nytimes-com-4388 71 14 that that WDT www-nytimes-com-4388 71 15 do do VBP www-nytimes-com-4388 71 16 algorithmic algorithmic JJ www-nytimes-com-4388 71 17 trading trading NN www-nytimes-com-4388 71 18 to to TO www-nytimes-com-4388 71 19 instantly instantly RB www-nytimes-com-4388 71 20 cash cash VB www-nytimes-com-4388 71 21 in in RP www-nytimes-com-4388 71 22 on on IN www-nytimes-com-4388 71 23 market market NN www-nytimes-com-4388 71 24 distortions distortion NNS www-nytimes-com-4388 71 25 that that WDT www-nytimes-com-4388 71 26 occur occur VBP www-nytimes-com-4388 71 27 during during IN www-nytimes-com-4388 71 28 these these DT www-nytimes-com-4388 71 29 sell sell NN www-nytimes-com-4388 71 30 - - HYPH www-nytimes-com-4388 71 31 offs off NNS www-nytimes-com-4388 71 32 . . . www-nytimes-com-4388 72 1 Mr. Mr. NNP www-nytimes-com-4388 72 2 Bankman Bankman NNP www-nytimes-com-4388 72 3 - - HYPH www-nytimes-com-4388 72 4 Fried Fried NNP www-nytimes-com-4388 72 5 said say VBD www-nytimes-com-4388 72 6 that that IN www-nytimes-com-4388 72 7 he -PRON- PRP www-nytimes-com-4388 72 8 sees see VBZ www-nytimes-com-4388 72 9 no no DT www-nytimes-com-4388 72 10 conflict conflict NN www-nytimes-com-4388 72 11 in in IN www-nytimes-com-4388 72 12 his -PRON- PRP$ www-nytimes-com-4388 72 13 businesses business NNS www-nytimes-com-4388 72 14 playing play VBG www-nytimes-com-4388 72 15 the the DT www-nytimes-com-4388 72 16 two two CD www-nytimes-com-4388 72 17 roles role NNS www-nytimes-com-4388 72 18 , , , www-nytimes-com-4388 72 19 as as IN www-nytimes-com-4388 72 20 these these DT www-nytimes-com-4388 72 21 moves move NNS www-nytimes-com-4388 72 22 help help VBP www-nytimes-com-4388 72 23 keep keep VB www-nytimes-com-4388 72 24 the the DT www-nytimes-com-4388 72 25 markets market NNS www-nytimes-com-4388 72 26 liquid liquid NN www-nytimes-com-4388 72 27 during during IN www-nytimes-com-4388 72 28 major major JJ www-nytimes-com-4388 72 29 declines decline NNS www-nytimes-com-4388 72 30 . . . www-nytimes-com-4388 73 1 FTX FTX NNP www-nytimes-com-4388 73 2 , , , www-nytimes-com-4388 73 3 Binance Binance NNP www-nytimes-com-4388 73 4 and and CC www-nytimes-com-4388 73 5 BitMEX BitMEX NNP www-nytimes-com-4388 73 6 ’s ’s NNP www-nytimes-com-4388 73 7 founders founder NNS www-nytimes-com-4388 73 8 have have VBP www-nytimes-com-4388 73 9 each each DT www-nytimes-com-4388 73 10 argued argue VBN www-nytimes-com-4388 73 11 that that IN www-nytimes-com-4388 73 12 only only RB www-nytimes-com-4388 73 13 a a DT www-nytimes-com-4388 73 14 small small JJ www-nytimes-com-4388 73 15 share share NN www-nytimes-com-4388 73 16 of of IN www-nytimes-com-4388 73 17 their -PRON- PRP$ www-nytimes-com-4388 73 18 customers customer NNS www-nytimes-com-4388 73 19 actually actually RB www-nytimes-com-4388 73 20 use use VBP www-nytimes-com-4388 73 21 high high JJ www-nytimes-com-4388 73 22 leverage leverage NN www-nytimes-com-4388 73 23 . . . www-nytimes-com-4388 74 1 But but CC www-nytimes-com-4388 74 2 even even RB www-nytimes-com-4388 74 3 for for IN www-nytimes-com-4388 74 4 those those DT www-nytimes-com-4388 74 5 making make VBG www-nytimes-com-4388 74 6 smaller small JJR www-nytimes-com-4388 74 7 bets bet NNS www-nytimes-com-4388 74 8 , , , www-nytimes-com-4388 74 9 problems problem NNS www-nytimes-com-4388 74 10 can can MD www-nytimes-com-4388 74 11 crop crop VB www-nytimes-com-4388 74 12 up up RP www-nytimes-com-4388 74 13 quickly quickly RB www-nytimes-com-4388 74 14 if if IN www-nytimes-com-4388 74 15 cryptocurrency cryptocurrency NN www-nytimes-com-4388 74 16 prices price NNS www-nytimes-com-4388 74 17 start start VBP www-nytimes-com-4388 74 18 to to TO www-nytimes-com-4388 74 19 fall fall VB www-nytimes-com-4388 74 20 . . . www-nytimes-com-4388 75 1 On on IN www-nytimes-com-4388 75 2 May May NNP www-nytimes-com-4388 75 3 18 18 CD www-nytimes-com-4388 75 4 alone alone RB www-nytimes-com-4388 75 5 , , , www-nytimes-com-4388 75 6 there there EX www-nytimes-com-4388 75 7 were be VBD www-nytimes-com-4388 75 8 a a DT www-nytimes-com-4388 75 9 total total NN www-nytimes-com-4388 75 10 of of IN www-nytimes-com-4388 75 11 $ $ $ www-nytimes-com-4388 75 12 1.6 1.6 CD www-nytimes-com-4388 75 13 billion billion CD www-nytimes-com-4388 75 14 worth worth NN www-nytimes-com-4388 75 15 of of IN www-nytimes-com-4388 75 16 liquidations liquidation NNS www-nytimes-com-4388 75 17 on on IN www-nytimes-com-4388 75 18 BitMEX BitMEX NNP www-nytimes-com-4388 75 19 , , , www-nytimes-com-4388 75 20 Binance Binance NNP www-nytimes-com-4388 75 21 and and CC www-nytimes-com-4388 75 22 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May may NN www-nytimes-com-4388 76 15 . . . www-nytimes-com-4388 77 1 “ " `` www-nytimes-com-4388 77 2 If if IN www-nytimes-com-4388 77 3 you -PRON- PRP www-nytimes-com-4388 77 4 play play VBP www-nytimes-com-4388 77 5 poker poker NN www-nytimes-com-4388 77 6 , , , www-nytimes-com-4388 77 7 let let VB www-nytimes-com-4388 77 8 ’s -PRON- PRP www-nytimes-com-4388 77 9 say say VB www-nytimes-com-4388 77 10 for for IN www-nytimes-com-4388 77 11 futures future NNS www-nytimes-com-4388 77 12 trading trading NN www-nytimes-com-4388 77 13 , , , www-nytimes-com-4388 77 14 if if IN www-nytimes-com-4388 77 15 you -PRON- PRP www-nytimes-com-4388 77 16 go go VBP www-nytimes-com-4388 77 17 all all RB www-nytimes-com-4388 77 18 in in RB www-nytimes-com-4388 77 19 on on IN www-nytimes-com-4388 77 20 maximum maximum JJ www-nytimes-com-4388 77 21 leverage leverage NN www-nytimes-com-4388 77 22 every every DT www-nytimes-com-4388 77 23 single single JJ www-nytimes-com-4388 77 24 time time NN 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. www-nytimes-com-4388 78 1 “ " `` www-nytimes-com-4388 78 2 The the DT www-nytimes-com-4388 78 3 professional professional JJ www-nytimes-com-4388 78 4 futures future NNS www-nytimes-com-4388 78 5 traders trader NNS www-nytimes-com-4388 78 6 , , , www-nytimes-com-4388 78 7 they -PRON- PRP www-nytimes-com-4388 78 8 manage manage VBP www-nytimes-com-4388 78 9 risk risk NN www-nytimes-com-4388 78 10 . . . www-nytimes-com-4388 78 11 ” " '' www-nytimes-com-4388 78 12 But but CC www-nytimes-com-4388 78 13 Michael Michael NNP www-nytimes-com-4388 78 14 Green Green NNP www-nytimes-com-4388 78 15 , , , www-nytimes-com-4388 78 16 a a DT www-nytimes-com-4388 78 17 crypto crypto NN www-nytimes-com-4388 78 18 critic critic NN www-nytimes-com-4388 78 19 and and CC www-nytimes-com-4388 78 20 the the DT www-nytimes-com-4388 78 21 chief chief JJ www-nytimes-com-4388 78 22 strategist strategist NN www-nytimes-com-4388 78 23 at at IN www-nytimes-com-4388 78 24 Simplify Simplify NNP www-nytimes-com-4388 78 25 Asset Asset NNP www-nytimes-com-4388 78 26 Management Management NNP www-nytimes-com-4388 78 27 , , , www-nytimes-com-4388 78 28 said say VBD www-nytimes-com-4388 78 29 the the DT www-nytimes-com-4388 78 30 derivatives derivative NNS www-nytimes-com-4388 78 31 market market NN www-nytimes-com-4388 78 32 is be VBZ www-nytimes-com-4388 78 33 inherently inherently RB www-nytimes-com-4388 78 34 stacked stack VBN www-nytimes-com-4388 78 35 against against IN www-nytimes-com-4388 78 36 novice novice NN www-nytimes-com-4388 78 37 traders trader NNS www-nytimes-com-4388 78 38 . . . www-nytimes-com-4388 79 1 “ " `` www-nytimes-com-4388 79 2 The the DT www-nytimes-com-4388 79 3 math math NN www-nytimes-com-4388 79 4 of of IN www-nytimes-com-4388 79 5 highly highly RB www-nytimes-com-4388 79 6 volatile volatile JJ www-nytimes-com-4388 79 7 instruments instrument NNS www-nytimes-com-4388 79 8 is be VBZ www-nytimes-com-4388 79 9 that that IN www-nytimes-com-4388 79 10 the the DT www-nytimes-com-4388 79 11 house house NN www-nytimes-com-4388 79 12 almost almost RB www-nytimes-com-4388 79 13 always always RB www-nytimes-com-4388 79 14 has have VBZ www-nytimes-com-4388 79 15 to to TO www-nytimes-com-4388 79 16 win win VB www-nytimes-com-4388 79 17 , , , www-nytimes-com-4388 79 18 ” " '' www-nytimes-com-4388 79 19 Mr. Mr. NNP www-nytimes-com-4388 79 20 Green Green NNP www-nytimes-com-4388 79 21 said say VBD www-nytimes-com-4388 79 22 , , , www-nytimes-com-4388 79 23 adding add VBG www-nytimes-com-4388 79 24 that that IN www-nytimes-com-4388 79 25 from from IN www-nytimes-com-4388 79 26 his -PRON- PRP$ www-nytimes-com-4388 79 27 perspective perspective NN www-nytimes-com-4388 79 28 , , , www-nytimes-com-4388 79 29 “ " `` www-nytimes-com-4388 79 30 these these DT www-nytimes-com-4388 79 31 are be VBP www-nytimes-com-4388 79 32 unregistered unregistered JJ www-nytimes-com-4388 79 33 casinos casino NNS www-nytimes-com-4388 79 34 . . . www-nytimes-com-4388 79 35 ” " '' www-nytimes-com-4388 79 36 From from IN www-nytimes-com-4388 79 37 Shanghai Shanghai NNP www-nytimes-com-4388 79 38 to to IN www-nytimes-com-4388 79 39 Malta Malta NNP www-nytimes-com-4388 79 40 Mr. Mr. NNP www-nytimes-com-4388 79 41 Zhao Zhao NNP www-nytimes-com-4388 79 42 is be VBZ www-nytimes-com-4388 79 43 so so RB www-nytimes-com-4388 79 44 focused focused JJ www-nytimes-com-4388 79 45 on on IN www-nytimes-com-4388 79 46 the the DT www-nytimes-com-4388 79 47 branding branding NN www-nytimes-com-4388 79 48 of of IN www-nytimes-com-4388 79 49 Binance binance NN www-nytimes-com-4388 79 50 that that IN www-nytimes-com-4388 79 51 he -PRON- PRP www-nytimes-com-4388 79 52 has have VBZ www-nytimes-com-4388 79 53 the the DT www-nytimes-com-4388 79 54 company company NN www-nytimes-com-4388 79 55 logo logo NN www-nytimes-com-4388 79 56 — — : www-nytimes-com-4388 79 57 two two CD www-nytimes-com-4388 79 58 diagonal diagonal JJ www-nytimes-com-4388 79 59 squares square NNS www-nytimes-com-4388 79 60 representing representing NN www-nytimes-com-4388 79 61 bids bid NNS www-nytimes-com-4388 79 62 and and CC www-nytimes-com-4388 79 63 asks ask VBZ www-nytimes-com-4388 79 64 in in IN www-nytimes-com-4388 79 65 trading trading NN www-nytimes-com-4388 79 66 — — : www-nytimes-com-4388 79 67 tattooed tattoo VBN www-nytimes-com-4388 79 68 on on IN www-nytimes-com-4388 79 69 what what WP www-nytimes-com-4388 79 70 he -PRON- PRP www-nytimes-com-4388 79 71 now now RB www-nytimes-com-4388 79 72 calls call VBZ www-nytimes-com-4388 79 73 his -PRON- PRP$ www-nytimes-com-4388 79 74 “ " `` www-nytimes-com-4388 79 75 crypto crypto NN www-nytimes-com-4388 79 76 arm arm NN www-nytimes-com-4388 79 77 . . . www-nytimes-com-4388 79 78 ” " '' www-nytimes-com-4388 79 79 He -PRON- PRP www-nytimes-com-4388 79 80 and and CC www-nytimes-com-4388 79 81 his -PRON- PRP$ www-nytimes-com-4388 79 82 fellow fellow JJ www-nytimes-com-4388 79 83 crypto crypto NN www-nytimes-com-4388 79 84 nomads nomad NNS www-nytimes-com-4388 79 85 have have VBP www-nytimes-com-4388 79 86 become become VBN www-nytimes-com-4388 79 87 global global JJ www-nytimes-com-4388 79 88 celebrities celebrity NNS www-nytimes-com-4388 79 89 with with IN www-nytimes-com-4388 79 90 millions million NNS www-nytimes-com-4388 79 91 of of IN www-nytimes-com-4388 79 92 followers follower NNS www-nytimes-com-4388 79 93 on on IN www-nytimes-com-4388 79 94 Twitter Twitter NNP www-nytimes-com-4388 79 95 , , , www-nytimes-com-4388 79 96 podcasts podcast NNS www-nytimes-com-4388 79 97 and and CC www-nytimes-com-4388 79 98 even even RB www-nytimes-com-4388 79 99 livestreams livestream NNS www-nytimes-com-4388 79 100 on on IN www-nytimes-com-4388 79 101 YouTube YouTube NNP www-nytimes-com-4388 79 102 of of IN www-nytimes-com-4388 79 103 their -PRON- PRP$ www-nytimes-com-4388 79 104 poker poker NN www-nytimes-com-4388 79 105 games game NNS www-nytimes-com-4388 79 106 . . . www-nytimes-com-4388 80 1 They -PRON- PRP www-nytimes-com-4388 80 2 are be VBP www-nytimes-com-4388 80 3 the the DT www-nytimes-com-4388 80 4 diplomats diplomat NNS www-nytimes-com-4388 80 5 of of IN www-nytimes-com-4388 80 6 a a DT www-nytimes-com-4388 80 7 renegade renegade NN www-nytimes-com-4388 80 8 industry industry NN www-nytimes-com-4388 80 9 , , , www-nytimes-com-4388 80 10 attached attach VBN www-nytimes-com-4388 80 11 to to IN www-nytimes-com-4388 80 12 no no DT www-nytimes-com-4388 80 13 particular particular JJ www-nytimes-com-4388 80 14 state state NN www-nytimes-com-4388 80 15 . . . www-nytimes-com-4388 81 1 Binance binance NN www-nytimes-com-4388 81 2 set set VBD www-nytimes-com-4388 81 3 up up RP www-nytimes-com-4388 81 4 its -PRON- PRP$ www-nytimes-com-4388 81 5 offices office NNS www-nytimes-com-4388 81 6 in in IN www-nytimes-com-4388 81 7 Shanghai Shanghai NNP www-nytimes-com-4388 81 8 in in IN www-nytimes-com-4388 81 9 July July NNP www-nytimes-com-4388 81 10 2017 2017 CD www-nytimes-com-4388 81 11 . . . www-nytimes-com-4388 82 1 But but CC www-nytimes-com-4388 82 2 two two CD www-nytimes-com-4388 82 3 months month NNS www-nytimes-com-4388 82 4 later later RB www-nytimes-com-4388 82 5 , , , www-nytimes-com-4388 82 6 when when WRB www-nytimes-com-4388 82 7 the the DT www-nytimes-com-4388 82 8 Chinese chinese JJ www-nytimes-com-4388 82 9 government government NN www-nytimes-com-4388 82 10 announced announce VBD www-nytimes-com-4388 82 11 a a DT www-nytimes-com-4388 82 12 crackdown crackdown NN www-nytimes-com-4388 82 13 on on IN www-nytimes-com-4388 82 14 crypto crypto NN www-nytimes-com-4388 82 15 exchanges exchange NNS www-nytimes-com-4388 82 16 , , , www-nytimes-com-4388 82 17 the the DT www-nytimes-com-4388 82 18 company company NN www-nytimes-com-4388 82 19 moved move VBD www-nytimes-com-4388 82 20 to to IN www-nytimes-com-4388 82 21 Tokyo Tokyo NNP www-nytimes-com-4388 82 22 . . . www-nytimes-com-4388 83 1 Japan Japan NNP www-nytimes-com-4388 83 2 then then RB www-nytimes-com-4388 83 3 announced announce VBD www-nytimes-com-4388 83 4 new new JJ www-nytimes-com-4388 83 5 crypto crypto NN www-nytimes-com-4388 83 6 exchange exchange NN www-nytimes-com-4388 83 7 rules rule NNS www-nytimes-com-4388 83 8 . . . www-nytimes-com-4388 84 1 “ " `` www-nytimes-com-4388 84 2 So so RB www-nytimes-com-4388 84 3 we -PRON- PRP www-nytimes-com-4388 84 4 said say VBD www-nytimes-com-4388 84 5 , , , www-nytimes-com-4388 84 6 well well UH www-nytimes-com-4388 84 7 , , , www-nytimes-com-4388 84 8 that that WDT www-nytimes-com-4388 84 9 does do VBZ www-nytimes-com-4388 84 10 n’t not RB www-nytimes-com-4388 84 11 fit fit VB www-nytimes-com-4388 84 12 , , , www-nytimes-com-4388 84 13 ” " '' www-nytimes-com-4388 84 14 Mr. Mr. NNP www-nytimes-com-4388 84 15 Zhao Zhao NNP www-nytimes-com-4388 84 16 explained explain VBD www-nytimes-com-4388 84 17 . . . www-nytimes-com-4388 85 1 “ " `` www-nytimes-com-4388 85 2 So so RB www-nytimes-com-4388 85 3 we -PRON- PRP www-nytimes-com-4388 85 4 had have VBD www-nytimes-com-4388 85 5 to to TO www-nytimes-com-4388 85 6 move move VB www-nytimes-com-4388 85 7 again again RB www-nytimes-com-4388 85 8 . . . www-nytimes-com-4388 85 9 ” " '' www-nytimes-com-4388 85 10 The the DT www-nytimes-com-4388 85 11 next next JJ www-nytimes-com-4388 85 12 stop stop NN www-nytimes-com-4388 85 13 was be VBD www-nytimes-com-4388 85 14 Malta Malta NNP www-nytimes-com-4388 85 15 , , , www-nytimes-com-4388 85 16 the the DT www-nytimes-com-4388 85 17 tiny tiny JJ www-nytimes-com-4388 85 18 island island NN www-nytimes-com-4388 85 19 nation nation NN www-nytimes-com-4388 85 20 in in IN www-nytimes-com-4388 85 21 the the DT www-nytimes-com-4388 85 22 central central JJ www-nytimes-com-4388 85 23 Mediterranean Mediterranean NNP www-nytimes-com-4388 85 24 . . . www-nytimes-com-4388 86 1 Now now RB www-nytimes-com-4388 86 2 Mr. Mr. NNP www-nytimes-com-4388 86 3 Zhao Zhao NNP www-nytimes-com-4388 86 4 does do VBZ www-nytimes-com-4388 86 5 not not RB www-nytimes-com-4388 86 6 identify identify VB www-nytimes-com-4388 86 7 any any DT www-nytimes-com-4388 86 8 location location NN www-nytimes-com-4388 86 9 as as IN www-nytimes-com-4388 86 10 the the DT www-nytimes-com-4388 86 11 company company NN www-nytimes-com-4388 86 12 ’s ’s POS www-nytimes-com-4388 86 13 headquarters headquarters NN www-nytimes-com-4388 86 14 . . . www-nytimes-com-4388 87 1 Image image NN www-nytimes-com-4388 87 2 Mr. Mr. NNP www-nytimes-com-4388 87 3 Zhao Zhao NNP www-nytimes-com-4388 87 4 at at IN www-nytimes-com-4388 87 5 a a DT www-nytimes-com-4388 87 6 conference conference NN www-nytimes-com-4388 87 7 in in IN www-nytimes-com-4388 87 8 Malta Malta NNP www-nytimes-com-4388 87 9 in in IN www-nytimes-com-4388 87 10 2018 2018 CD www-nytimes-com-4388 87 11 . . . www-nytimes-com-4388 88 1 He -PRON- PRP www-nytimes-com-4388 88 2 says say VBZ www-nytimes-com-4388 88 3 living live VBG www-nytimes-com-4388 88 4 in in IN www-nytimes-com-4388 88 5 many many JJ www-nytimes-com-4388 88 6 countries country NNS www-nytimes-com-4388 88 7 has have VBZ www-nytimes-com-4388 88 8 given give VBN www-nytimes-com-4388 88 9 him -PRON- PRP www-nytimes-com-4388 88 10 “ " `` www-nytimes-com-4388 88 11 a a DT www-nytimes-com-4388 88 12 broader broad JJR www-nytimes-com-4388 88 13 worldview worldview NN www-nytimes-com-4388 88 14 , , , www-nytimes-com-4388 88 15 ” " '' www-nytimes-com-4388 88 16 which which WDT www-nytimes-com-4388 88 17 informs inform VBZ www-nytimes-com-4388 88 18 his -PRON- PRP$ www-nytimes-com-4388 88 19 business business NN www-nytimes-com-4388 88 20 and and CC www-nytimes-com-4388 88 21 its -PRON- PRP$ www-nytimes-com-4388 88 22 borderless borderless JJ www-nytimes-com-4388 88 23 mentality mentality NN www-nytimes-com-4388 88 24 . . . www-nytimes-com-4388 88 25 Credit credit NN www-nytimes-com-4388 88 26 ... ... : www-nytimes-com-4388 88 27 Darrin Darrin NNP www-nytimes-com-4388 88 28 Zammit Zammit NNP www-nytimes-com-4388 88 29 Lupi Lupi NNP www-nytimes-com-4388 88 30 / / SYM www-nytimes-com-4388 88 31 Reuters Reuters NNP www-nytimes-com-4388 88 32 Binance Binance NNP www-nytimes-com-4388 88 33 ’s ’s POS www-nytimes-com-4388 88 34 shifting shift VBG www-nytimes-com-4388 88 35 home home NN www-nytimes-com-4388 88 36 base base NN www-nytimes-com-4388 88 37 , , , www-nytimes-com-4388 88 38 in in IN www-nytimes-com-4388 88 39 a a DT www-nytimes-com-4388 88 40 way way NN www-nytimes-com-4388 88 41 , , , www-nytimes-com-4388 88 42 reflects reflect VBZ www-nytimes-com-4388 88 43 his -PRON- PRP$ www-nytimes-com-4388 88 44 own own JJ www-nytimes-com-4388 88 45 life life NN www-nytimes-com-4388 88 46 story story NN www-nytimes-com-4388 88 47 . . . www-nytimes-com-4388 89 1 Born bear VBN www-nytimes-com-4388 89 2 in in IN www-nytimes-com-4388 89 3 China China NNP www-nytimes-com-4388 89 4 to to IN www-nytimes-com-4388 89 5 academics academic NNS www-nytimes-com-4388 89 6 , , , www-nytimes-com-4388 89 7 he -PRON- PRP www-nytimes-com-4388 89 8 moved move VBD www-nytimes-com-4388 89 9 to to IN www-nytimes-com-4388 89 10 Canada Canada NNP www-nytimes-com-4388 89 11 when when WRB www-nytimes-com-4388 89 12 he -PRON- PRP www-nytimes-com-4388 89 13 was be VBD www-nytimes-com-4388 89 14 12 12 CD www-nytimes-com-4388 89 15 , , , www-nytimes-com-4388 89 16 interned intern VBN www-nytimes-com-4388 89 17 in in IN www-nytimes-com-4388 89 18 Japan Japan NNP www-nytimes-com-4388 89 19 while while IN www-nytimes-com-4388 89 20 studying study VBG www-nytimes-com-4388 89 21 computer computer NN www-nytimes-com-4388 89 22 science science NN www-nytimes-com-4388 89 23 at at IN www-nytimes-com-4388 89 24 McGill McGill NNP www-nytimes-com-4388 89 25 University University NNP www-nytimes-com-4388 89 26 and and CC www-nytimes-com-4388 89 27 went go VBD www-nytimes-com-4388 89 28 on on RP www-nytimes-com-4388 89 29 to to IN www-nytimes-com-4388 89 30 jobs job NNS www-nytimes-com-4388 89 31 developing develop VBG www-nytimes-com-4388 89 32 trading trading NN www-nytimes-com-4388 89 33 products product NNS www-nytimes-com-4388 89 34 in in IN www-nytimes-com-4388 89 35 Tokyo Tokyo NNP www-nytimes-com-4388 89 36 , , , www-nytimes-com-4388 89 37 New New NNP www-nytimes-com-4388 89 38 York York NNP www-nytimes-com-4388 89 39 , , , www-nytimes-com-4388 89 40 Singapore Singapore NNP www-nytimes-com-4388 89 41 , , , www-nytimes-com-4388 89 42 Hong Hong NNP www-nytimes-com-4388 89 43 Kong Kong NNP www-nytimes-com-4388 89 44 and and CC www-nytimes-com-4388 89 45 Shanghai Shanghai NNP www-nytimes-com-4388 89 46 . . . www-nytimes-com-4388 90 1 “ " `` www-nytimes-com-4388 90 2 I -PRON- PRP www-nytimes-com-4388 90 3 ’ve have VB www-nytimes-com-4388 90 4 been be VBN www-nytimes-com-4388 90 5 moving move VBG www-nytimes-com-4388 90 6 around around IN www-nytimes-com-4388 90 7 quite quite PDT www-nytimes-com-4388 90 8 a a DT www-nytimes-com-4388 90 9 bit bit NN www-nytimes-com-4388 90 10 in in IN www-nytimes-com-4388 90 11 my -PRON- PRP$ www-nytimes-com-4388 90 12 life life NN www-nytimes-com-4388 90 13 , , , www-nytimes-com-4388 90 14 ” " '' www-nytimes-com-4388 90 15 Mr. Mr. NNP www-nytimes-com-4388 90 16 Zhao Zhao NNP www-nytimes-com-4388 90 17 said say VBD www-nytimes-com-4388 90 18 . . . www-nytimes-com-4388 91 1 This this DT www-nytimes-com-4388 91 2 international international JJ www-nytimes-com-4388 91 3 exposure exposure NN www-nytimes-com-4388 91 4 gives give VBZ www-nytimes-com-4388 91 5 him -PRON- PRP www-nytimes-com-4388 91 6 “ " `` www-nytimes-com-4388 91 7 a a DT www-nytimes-com-4388 91 8 broader broad JJR www-nytimes-com-4388 91 9 worldview worldview NN www-nytimes-com-4388 91 10 ” " '' www-nytimes-com-4388 91 11 that that WDT www-nytimes-com-4388 91 12 informs inform VBZ www-nytimes-com-4388 91 13 his -PRON- PRP$ www-nytimes-com-4388 91 14 business business NN www-nytimes-com-4388 91 15 and and CC www-nytimes-com-4388 91 16 its -PRON- PRP$ www-nytimes-com-4388 91 17 borderless borderless JJ www-nytimes-com-4388 91 18 mentality mentality NN www-nytimes-com-4388 91 19 . . . www-nytimes-com-4388 92 1 Other other JJ www-nytimes-com-4388 92 2 companies company NNS www-nytimes-com-4388 92 3 have have VBP www-nytimes-com-4388 92 4 also also RB www-nytimes-com-4388 92 5 moved move VBN www-nytimes-com-4388 92 6 . . . www-nytimes-com-4388 93 1 The the DT www-nytimes-com-4388 93 2 Dutch dutch JJ www-nytimes-com-4388 93 3 cryptocurrency cryptocurrency NN www-nytimes-com-4388 93 4 exchange exchange NN www-nytimes-com-4388 93 5 Deribit Deribit NNP www-nytimes-com-4388 93 6 announced announce VBD www-nytimes-com-4388 93 7 last last JJ www-nytimes-com-4388 93 8 year year NN www-nytimes-com-4388 93 9 that that IN www-nytimes-com-4388 93 10 it -PRON- PRP www-nytimes-com-4388 93 11 would would MD www-nytimes-com-4388 93 12 be be VB www-nytimes-com-4388 93 13 operated operate VBN www-nytimes-com-4388 93 14 by by IN www-nytimes-com-4388 93 15 a a DT www-nytimes-com-4388 93 16 subsidiary subsidiary NN www-nytimes-com-4388 93 17 company company NN www-nytimes-com-4388 93 18 called call VBN www-nytimes-com-4388 93 19 DRB DRB NNP www-nytimes-com-4388 93 20 Panama Panama NNP www-nytimes-com-4388 93 21 , , , www-nytimes-com-4388 93 22 and and CC www-nytimes-com-4388 93 23 several several JJ www-nytimes-com-4388 93 24 of of IN www-nytimes-com-4388 93 25 its -PRON- PRP$ www-nytimes-com-4388 93 26 executives executive NNS www-nytimes-com-4388 93 27 moved move VBD www-nytimes-com-4388 93 28 to to IN www-nytimes-com-4388 93 29 Central Central NNP www-nytimes-com-4388 93 30 America America NNP www-nytimes-com-4388 93 31 , , , www-nytimes-com-4388 93 32 company company NN www-nytimes-com-4388 93 33 officials official NNS www-nytimes-com-4388 93 34 said say VBD www-nytimes-com-4388 93 35 . . . www-nytimes-com-4388 94 1 Palm palm NN www-nytimes-com-4388 94 2 trees tree NNS www-nytimes-com-4388 94 3 and and CC www-nytimes-com-4388 94 4 tropical tropical JJ www-nytimes-com-4388 94 5 vistas vista NNS www-nytimes-com-4388 94 6 now now RB www-nytimes-com-4388 94 7 feature feature VBP www-nytimes-com-4388 94 8 in in IN www-nytimes-com-4388 94 9 the the DT www-nytimes-com-4388 94 10 executives executive NNS www-nytimes-com-4388 94 11 ’ ’ POS www-nytimes-com-4388 94 12 social social JJ www-nytimes-com-4388 94 13 media medium NNS www-nytimes-com-4388 94 14 posts post NNS www-nytimes-com-4388 94 15 . . . www-nytimes-com-4388 95 1 BTSE BTSE NNP www-nytimes-com-4388 95 2 , , , www-nytimes-com-4388 95 3 another another DT www-nytimes-com-4388 95 4 exchange exchange NN www-nytimes-com-4388 95 5 that that WDT www-nytimes-com-4388 95 6 specializes specialize VBZ www-nytimes-com-4388 95 7 in in IN www-nytimes-com-4388 95 8 derivatives derivative NNS www-nytimes-com-4388 95 9 , , , www-nytimes-com-4388 95 10 moved move VBD www-nytimes-com-4388 95 11 its -PRON- PRP$ www-nytimes-com-4388 95 12 headquarters headquarters NN www-nytimes-com-4388 95 13 from from IN www-nytimes-com-4388 95 14 Dubai Dubai NNP www-nytimes-com-4388 95 15 to to IN www-nytimes-com-4388 95 16 the the DT www-nytimes-com-4388 95 17 British british JJ www-nytimes-com-4388 95 18 Virgin Virgin NNP www-nytimes-com-4388 95 19 Islands Islands NNP www-nytimes-com-4388 95 20 . . . www-nytimes-com-4388 96 1 But but CC www-nytimes-com-4388 96 2 in in IN www-nytimes-com-4388 96 3 some some DT www-nytimes-com-4388 96 4 cases case NNS www-nytimes-com-4388 96 5 , , , www-nytimes-com-4388 96 6 the the DT www-nytimes-com-4388 96 7 claimed claim VBN www-nytimes-com-4388 96 8 offshore offshore JJ www-nytimes-com-4388 96 9 base base NN www-nytimes-com-4388 96 10 of of IN www-nytimes-com-4388 96 11 operations operation NNS www-nytimes-com-4388 96 12 is be VBZ www-nytimes-com-4388 96 13 little little RB www-nytimes-com-4388 96 14 more more JJR www-nytimes-com-4388 96 15 than than IN www-nytimes-com-4388 96 16 a a DT www-nytimes-com-4388 96 17 ruse ruse NN www-nytimes-com-4388 96 18 . . . www-nytimes-com-4388 97 1 BitMEX BitMEX NNP www-nytimes-com-4388 97 2 listed list VBD www-nytimes-com-4388 97 3 its -PRON- PRP$ www-nytimes-com-4388 97 4 headquarters headquarters NN www-nytimes-com-4388 97 5 as as IN www-nytimes-com-4388 97 6 in in IN www-nytimes-com-4388 97 7 the the DT www-nytimes-com-4388 97 8 Seychelles Seychelles NNPS www-nytimes-com-4388 97 9 , , , www-nytimes-com-4388 97 10 an an DT www-nytimes-com-4388 97 11 island island NN www-nytimes-com-4388 97 12 republic republic NN www-nytimes-com-4388 97 13 in in IN www-nytimes-com-4388 97 14 the the DT www-nytimes-com-4388 97 15 western western JJ www-nytimes-com-4388 97 16 Indian Indian NNP www-nytimes-com-4388 97 17 Ocean Ocean NNP www-nytimes-com-4388 97 18 , , , www-nytimes-com-4388 97 19 yet yet CC www-nytimes-com-4388 97 20 federal federal JJ www-nytimes-com-4388 97 21 investigators investigator NNS www-nytimes-com-4388 97 22 found find VBD www-nytimes-com-4388 97 23 that that IN www-nytimes-com-4388 97 24 most most JJS www-nytimes-com-4388 97 25 of of IN www-nytimes-com-4388 97 26 its -PRON- PRP$ www-nytimes-com-4388 97 27 employees employee NNS www-nytimes-com-4388 97 28 worked work VBD www-nytimes-com-4388 97 29 in in IN www-nytimes-com-4388 97 30 New New NNP www-nytimes-com-4388 97 31 York York NNP www-nytimes-com-4388 97 32 , , , www-nytimes-com-4388 97 33 Hong Hong NNP www-nytimes-com-4388 97 34 Kong Kong NNP www-nytimes-com-4388 97 35 and and CC www-nytimes-com-4388 97 36 San San NNP www-nytimes-com-4388 97 37 Francisco Francisco NNP www-nytimes-com-4388 97 38 . . . www-nytimes-com-4388 98 1 Mr. Mr. NNP www-nytimes-com-4388 98 2 Hayes Hayes NNP www-nytimes-com-4388 98 3 , , , www-nytimes-com-4388 98 4 the the DT www-nytimes-com-4388 98 5 founder founder NN www-nytimes-com-4388 98 6 , , , www-nytimes-com-4388 98 7 claimed claim VBD www-nytimes-com-4388 98 8 it -PRON- PRP www-nytimes-com-4388 98 9 cost cost VBD www-nytimes-com-4388 98 10 just just RB www-nytimes-com-4388 98 11 “ " `` www-nytimes-com-4388 98 12 a a DT www-nytimes-com-4388 98 13 coconut coconut NN www-nytimes-com-4388 98 14 ” " '' www-nytimes-com-4388 98 15 to to TO www-nytimes-com-4388 98 16 bribe bribe VB www-nytimes-com-4388 98 17 Seychellois Seychellois NNP www-nytimes-com-4388 98 18 authorities authority NNS www-nytimes-com-4388 98 19 — — : www-nytimes-com-4388 98 20 less less JJR www-nytimes-com-4388 98 21 than than IN www-nytimes-com-4388 98 22 buying buy VBG www-nytimes-com-4388 98 23 favors favor NNS www-nytimes-com-4388 98 24 from from IN www-nytimes-com-4388 98 25 regulators regulator NNS www-nytimes-com-4388 98 26 in in IN www-nytimes-com-4388 98 27 the the DT www-nytimes-com-4388 98 28 United United NNP www-nytimes-com-4388 98 29 States States NNP www-nytimes-com-4388 98 30 and and CC www-nytimes-com-4388 98 31 elsewhere elsewhere RB www-nytimes-com-4388 98 32 , , , www-nytimes-com-4388 98 33 federal federal JJ www-nytimes-com-4388 98 34 prosecutors prosecutor NNS www-nytimes-com-4388 98 35 said say VBD www-nytimes-com-4388 98 36 when when WRB www-nytimes-com-4388 98 37 they -PRON- PRP www-nytimes-com-4388 98 38 charged charge VBD www-nytimes-com-4388 98 39 him -PRON- PRP www-nytimes-com-4388 98 40 in in IN www-nytimes-com-4388 98 41 late late JJ www-nytimes-com-4388 98 42 2020 2020 CD www-nytimes-com-4388 98 43 . . . www-nytimes-com-4388 99 1 Mr. Mr. NNP www-nytimes-com-4388 99 2 Hayes Hayes NNP www-nytimes-com-4388 99 3 pleaded plead VBD www-nytimes-com-4388 99 4 not not RB www-nytimes-com-4388 99 5 guilty guilty JJ www-nytimes-com-4388 99 6 in in IN www-nytimes-com-4388 99 7 April April NNP www-nytimes-com-4388 99 8 and and CC www-nytimes-com-4388 99 9 his -PRON- PRP$ www-nytimes-com-4388 99 10 case case NN www-nytimes-com-4388 99 11 is be VBZ www-nytimes-com-4388 99 12 pending pende VBG www-nytimes-com-4388 99 13 . . . www-nytimes-com-4388 100 1 He -PRON- PRP www-nytimes-com-4388 100 2 now now RB www-nytimes-com-4388 100 3 lives live VBZ www-nytimes-com-4388 100 4 in in IN www-nytimes-com-4388 100 5 Singapore Singapore NNP www-nytimes-com-4388 100 6 . . . www-nytimes-com-4388 101 1 “ " `` www-nytimes-com-4388 101 2 Arthur Arthur NNP www-nytimes-com-4388 101 3 Hayes Hayes NNP www-nytimes-com-4388 101 4 and and CC www-nytimes-com-4388 101 5 his -PRON- PRP$ www-nytimes-com-4388 101 6 co co NNS www-nytimes-com-4388 101 7 - - NNS www-nytimes-com-4388 101 8 defendants defendant NNS www-nytimes-com-4388 101 9 in in IN www-nytimes-com-4388 101 10 this this DT www-nytimes-com-4388 101 11 case case NN www-nytimes-com-4388 101 12 are be VBP www-nytimes-com-4388 101 13 innocent innocent JJ www-nytimes-com-4388 101 14 and and CC www-nytimes-com-4388 101 15 they -PRON- PRP www-nytimes-com-4388 101 16 look look VBP www-nytimes-com-4388 101 17 forward forward RB www-nytimes-com-4388 101 18 to to IN www-nytimes-com-4388 101 19 defending defend VBG www-nytimes-com-4388 101 20 themselves -PRON- PRP www-nytimes-com-4388 101 21 in in IN www-nytimes-com-4388 101 22 court court NN www-nytimes-com-4388 101 23 , , , www-nytimes-com-4388 101 24 ” " '' www-nytimes-com-4388 101 25 Nate Nate NNP www-nytimes-com-4388 101 26 Johnson Johnson NNP www-nytimes-com-4388 101 27 , , , www-nytimes-com-4388 101 28 a a DT www-nytimes-com-4388 101 29 spokesman spokesman NN www-nytimes-com-4388 101 30 for for IN www-nytimes-com-4388 101 31 Mr. Mr. NNP www-nytimes-com-4388 101 32 Hayes Hayes NNP www-nytimes-com-4388 101 33 , , , www-nytimes-com-4388 101 34 said say VBD www-nytimes-com-4388 101 35 . . . www-nytimes-com-4388 102 1 Until until IN www-nytimes-com-4388 102 2 recently recently RB www-nytimes-com-4388 102 3 , , , www-nytimes-com-4388 102 4 Hong Hong NNP www-nytimes-com-4388 102 5 Kong Kong NNP www-nytimes-com-4388 102 6 was be VBD www-nytimes-com-4388 102 7 a a DT www-nytimes-com-4388 102 8 gathering gathering NN www-nytimes-com-4388 102 9 place place NN www-nytimes-com-4388 102 10 for for IN www-nytimes-com-4388 102 11 cryptocurrency cryptocurrency NN www-nytimes-com-4388 102 12 gurus guru NNS www-nytimes-com-4388 102 13 , , , www-nytimes-com-4388 102 14 who who WP www-nytimes-com-4388 102 15 at at IN www-nytimes-com-4388 102 16 least least JJS www-nytimes-com-4388 102 17 before before IN www-nytimes-com-4388 102 18 the the DT www-nytimes-com-4388 102 19 pandemic pandemic NN www-nytimes-com-4388 102 20 frequently frequently RB www-nytimes-com-4388 102 21 met meet VBD www-nytimes-com-4388 102 22 up up RP www-nytimes-com-4388 102 23 at at IN www-nytimes-com-4388 102 24 industry industry NN www-nytimes-com-4388 102 25 conferences conference NNS www-nytimes-com-4388 102 26 held hold VBN www-nytimes-com-4388 102 27 there there RB www-nytimes-com-4388 102 28 or or CC www-nytimes-com-4388 102 29 at at IN www-nytimes-com-4388 102 30 local local JJ www-nytimes-com-4388 102 31 bars bar NNS www-nytimes-com-4388 102 32 and and CC www-nytimes-com-4388 102 33 cafes cafe NNS www-nytimes-com-4388 102 34 . . . www-nytimes-com-4388 103 1 Mr. Mr. NNP www-nytimes-com-4388 103 2 Zhao Zhao NNP www-nytimes-com-4388 103 3 said say VBD www-nytimes-com-4388 103 4 the the DT www-nytimes-com-4388 103 5 community community NN www-nytimes-com-4388 103 6 was be VBD www-nytimes-com-4388 103 7 what what WP www-nytimes-com-4388 103 8 sold sell VBD www-nytimes-com-4388 103 9 him -PRON- PRP www-nytimes-com-4388 103 10 on on IN www-nytimes-com-4388 103 11 cryptocurrency cryptocurrency NN www-nytimes-com-4388 103 12 . . . www-nytimes-com-4388 104 1 What what WP www-nytimes-com-4388 104 2 he -PRON- PRP www-nytimes-com-4388 104 3 found find VBD www-nytimes-com-4388 104 4 at at IN www-nytimes-com-4388 104 5 conferences conference NNS www-nytimes-com-4388 104 6 around around IN www-nytimes-com-4388 104 7 the the DT www-nytimes-com-4388 104 8 world world NN www-nytimes-com-4388 104 9 , , , www-nytimes-com-4388 104 10 he -PRON- PRP www-nytimes-com-4388 104 11 said say VBD www-nytimes-com-4388 104 12 , , , www-nytimes-com-4388 104 13 “ " `` www-nytimes-com-4388 104 14 was be VBD www-nytimes-com-4388 104 15 a a DT www-nytimes-com-4388 104 16 very very RB www-nytimes-com-4388 104 17 geeky geeky JJ www-nytimes-com-4388 104 18 , , , www-nytimes-com-4388 104 19 honest honest JJ www-nytimes-com-4388 104 20 community community NN www-nytimes-com-4388 104 21 . . . www-nytimes-com-4388 104 22 ” " '' www-nytimes-com-4388 104 23 These these DT www-nytimes-com-4388 104 24 personal personal JJ www-nytimes-com-4388 104 25 associations association NNS www-nytimes-com-4388 104 26 sometimes sometimes RB www-nytimes-com-4388 104 27 lead lead VBP www-nytimes-com-4388 104 28 to to IN www-nytimes-com-4388 104 29 financial financial JJ www-nytimes-com-4388 104 30 ties tie NNS www-nytimes-com-4388 104 31 . . . www-nytimes-com-4388 105 1 Mr. Mr. NNP www-nytimes-com-4388 105 2 Zhao Zhao NNP www-nytimes-com-4388 105 3 ’s ’s POS www-nytimes-com-4388 105 4 company company NN www-nytimes-com-4388 105 5 was be VBD www-nytimes-com-4388 105 6 an an DT www-nytimes-com-4388 105 7 early early JJ www-nytimes-com-4388 105 8 investor investor NN www-nytimes-com-4388 105 9 in in IN www-nytimes-com-4388 105 10 Mr. Mr. NNP www-nytimes-com-4388 105 11 Bankman Bankman NNP www-nytimes-com-4388 105 12 - - HYPH www-nytimes-com-4388 105 13 Fried Fried NNP www-nytimes-com-4388 105 14 ’s ’s POS www-nytimes-com-4388 105 15 exchange exchange NN www-nytimes-com-4388 105 16 , , , www-nytimes-com-4388 105 17 while while IN www-nytimes-com-4388 105 18 Mr. Mr. NNP www-nytimes-com-4388 105 19 Bankman Bankman NNP www-nytimes-com-4388 105 20 - - HYPH www-nytimes-com-4388 105 21 Fried Fried NNP www-nytimes-com-4388 105 22 ’s ’s POS www-nytimes-com-4388 105 23 trading trading NN www-nytimes-com-4388 105 24 company company NN www-nytimes-com-4388 105 25 is be VBZ www-nytimes-com-4388 105 26 a a DT www-nytimes-com-4388 105 27 client client NN www-nytimes-com-4388 105 28 of of IN www-nytimes-com-4388 105 29 Mr. Mr. NNP www-nytimes-com-4388 105 30 Zhao Zhao NNP www-nytimes-com-4388 105 31 ’s ’s POS www-nytimes-com-4388 105 32 platform platform NN www-nytimes-com-4388 105 33 . . . www-nytimes-com-4388 106 1 They -PRON- PRP www-nytimes-com-4388 106 2 talk talk VBP www-nytimes-com-4388 106 3 to to IN www-nytimes-com-4388 106 4 each each DT www-nytimes-com-4388 106 5 other other JJ www-nytimes-com-4388 106 6 regularly regularly RB www-nytimes-com-4388 106 7 . . . www-nytimes-com-4388 107 1 “ " `` www-nytimes-com-4388 107 2 I -PRON- PRP www-nytimes-com-4388 107 3 think think VBP www-nytimes-com-4388 107 4 I -PRON- PRP www-nytimes-com-4388 107 5 met meet VBD www-nytimes-com-4388 107 6 him -PRON- PRP www-nytimes-com-4388 107 7 in in IN www-nytimes-com-4388 107 8 Taiwan Taiwan NNP www-nytimes-com-4388 107 9 , , , www-nytimes-com-4388 107 10 Hong Hong NNP www-nytimes-com-4388 107 11 Kong Kong NNP www-nytimes-com-4388 107 12 , , , www-nytimes-com-4388 107 13 Singapore Singapore NNP www-nytimes-com-4388 107 14 and and CC www-nytimes-com-4388 107 15 maybe maybe RB www-nytimes-com-4388 107 16 even even RB www-nytimes-com-4388 107 17 Europe Europe NNP www-nytimes-com-4388 107 18 , , , www-nytimes-com-4388 107 19 ” " '' www-nytimes-com-4388 107 20 Mr. Mr. NNP www-nytimes-com-4388 107 21 Zhao Zhao NNP www-nytimes-com-4388 107 22 said say VBD www-nytimes-com-4388 107 23 of of IN www-nytimes-com-4388 107 24 his -PRON- PRP$ www-nytimes-com-4388 107 25 fellow fellow JJ www-nytimes-com-4388 107 26 crypto crypto NN www-nytimes-com-4388 107 27 nomad nomad NN www-nytimes-com-4388 107 28 . . . www-nytimes-com-4388 108 1 “ " `` www-nytimes-com-4388 108 2 But but CC www-nytimes-com-4388 108 3 mostly mostly RB www-nytimes-com-4388 108 4 in in IN www-nytimes-com-4388 108 5 Asia Asia NNP www-nytimes-com-4388 108 6 . . . www-nytimes-com-4388 108 7 ” " '' www-nytimes-com-4388 108 8 Mr. Mr. NNP www-nytimes-com-4388 108 9 Bankman Bankman NNP www-nytimes-com-4388 108 10 - - HYPH www-nytimes-com-4388 108 11 Fried Fried NNP www-nytimes-com-4388 108 12 and and CC www-nytimes-com-4388 108 13 Mr. Mr. NNP www-nytimes-com-4388 108 14 Zhao Zhao NNP www-nytimes-com-4388 108 15 said say VBD www-nytimes-com-4388 108 16 in in IN www-nytimes-com-4388 108 17 separate separate JJ www-nytimes-com-4388 108 18 interviews interview NNS www-nytimes-com-4388 108 19 that that IN www-nytimes-com-4388 108 20 they -PRON- PRP www-nytimes-com-4388 108 21 are be VBP www-nytimes-com-4388 108 22 committed committed JJ www-nytimes-com-4388 108 23 to to IN www-nytimes-com-4388 108 24 honoring honor VBG www-nytimes-com-4388 108 25 United United NNP www-nytimes-com-4388 108 26 States States NNP www-nytimes-com-4388 108 27 regulations regulation NNS www-nytimes-com-4388 108 28 , , , www-nytimes-com-4388 108 29 even even RB www-nytimes-com-4388 108 30 if if IN www-nytimes-com-4388 108 31 their -PRON- PRP$ www-nytimes-com-4388 108 32 global global JJ www-nytimes-com-4388 108 33 exchanges exchange NNS www-nytimes-com-4388 108 34 are be VBP www-nytimes-com-4388 108 35 based base VBN www-nytimes-com-4388 108 36 abroad abroad RB www-nytimes-com-4388 108 37 . . . www-nytimes-com-4388 109 1 But but CC www-nytimes-com-4388 109 2 globally globally RB www-nytimes-com-4388 109 3 , , , www-nytimes-com-4388 109 4 the the DT www-nytimes-com-4388 109 5 cryptocurrency cryptocurrency NN www-nytimes-com-4388 109 6 derivatives derivative NNS www-nytimes-com-4388 109 7 market market NN www-nytimes-com-4388 109 8 continues continue VBZ www-nytimes-com-4388 109 9 to to TO www-nytimes-com-4388 109 10 surge surge VB www-nytimes-com-4388 109 11 — — : www-nytimes-com-4388 109 12 and and CC www-nytimes-com-4388 109 13 there there EX www-nytimes-com-4388 109 14 are be VBP www-nytimes-com-4388 109 15 clear clear JJ www-nytimes-com-4388 109 16 signs sign NNS www-nytimes-com-4388 109 17 that that IN www-nytimes-com-4388 109 18 major major JJ www-nytimes-com-4388 109 19 United United NNP www-nytimes-com-4388 109 20 States States NNP www-nytimes-com-4388 109 21 players player NNS www-nytimes-com-4388 109 22 are be VBP www-nytimes-com-4388 109 23 still still RB www-nytimes-com-4388 109 24 pouring pour VBG www-nytimes-com-4388 109 25 money money NN www-nytimes-com-4388 109 26 into into IN www-nytimes-com-4388 109 27 the the DT www-nytimes-com-4388 109 28 game game NN www-nytimes-com-4388 109 29 . . . www-nytimes-com-4388 110 1 More More JJR www-nytimes-com-4388 110 2 than than IN www-nytimes-com-4388 110 3 a a DT www-nytimes-com-4388 110 4 dozen dozen NN www-nytimes-com-4388 110 5 major major JJ www-nytimes-com-4388 110 6 private private JJ www-nytimes-com-4388 110 7 trading trading NN www-nytimes-com-4388 110 8 firms firm NNS www-nytimes-com-4388 110 9 with with IN www-nytimes-com-4388 110 10 U.S. U.S. NNP www-nytimes-com-4388 110 11 roots root NNS www-nytimes-com-4388 110 12 have have VBP www-nytimes-com-4388 110 13 set set VBN www-nytimes-com-4388 110 14 up up RP www-nytimes-com-4388 110 15 offices office NNS www-nytimes-com-4388 110 16 in in IN www-nytimes-com-4388 110 17 the the DT www-nytimes-com-4388 110 18 Cayman Cayman NNP www-nytimes-com-4388 110 19 Islands Islands NNPS www-nytimes-com-4388 110 20 and and CC www-nytimes-com-4388 110 21 other other JJ www-nytimes-com-4388 110 22 offshore offshore JJ www-nytimes-com-4388 110 23 locations location NNS www-nytimes-com-4388 110 24 , , , www-nytimes-com-4388 110 25 creating create VBG www-nytimes-com-4388 110 26 new new JJ www-nytimes-com-4388 110 27 corporate corporate JJ www-nytimes-com-4388 110 28 entities entity NNS www-nytimes-com-4388 110 29 to to TO www-nytimes-com-4388 110 30 push push VB www-nytimes-com-4388 110 31 money money NN www-nytimes-com-4388 110 32 through through IN www-nytimes-com-4388 110 33 Binance Binance NNP www-nytimes-com-4388 110 34 ’s ’s NNP www-nytimes-com-4388 110 35 and and CC www-nytimes-com-4388 110 36 FTX FTX NNP www-nytimes-com-4388 110 37 ’s ’s POS www-nytimes-com-4388 110 38 overseas overseas JJ www-nytimes-com-4388 110 39 derivatives derivative VBZ www-nytimes-com-4388 110 40 platforms platform NNS www-nytimes-com-4388 110 41 on on IN www-nytimes-com-4388 110 42 a a DT www-nytimes-com-4388 110 43 huge huge JJ www-nytimes-com-4388 110 44 scale scale NN www-nytimes-com-4388 110 45 , , , www-nytimes-com-4388 110 46 traders trader NNS www-nytimes-com-4388 110 47 involved involve VBN www-nytimes-com-4388 110 48 told tell VBD www-nytimes-com-4388 110 49 The the DT www-nytimes-com-4388 110 50 New New NNP www-nytimes-com-4388 110 51 York York NNP www-nytimes-com-4388 110 52 Times Times NNP www-nytimes-com-4388 110 53 . . . www-nytimes-com-4388 111 1 “ " `` www-nytimes-com-4388 111 2 I -PRON- PRP www-nytimes-com-4388 111 3 ’m be VBP www-nytimes-com-4388 111 4 not not RB www-nytimes-com-4388 111 5 a a DT www-nytimes-com-4388 111 6 U.S. U.S. NNP www-nytimes-com-4388 111 7 person person NN www-nytimes-com-4388 111 8 , , , www-nytimes-com-4388 111 9 ” " '' www-nytimes-com-4388 111 10 said say VBD www-nytimes-com-4388 111 11 one one CD www-nytimes-com-4388 111 12 trader trader NN www-nytimes-com-4388 111 13 who who WP www-nytimes-com-4388 111 14 has have VBZ www-nytimes-com-4388 111 15 moved move VBN www-nytimes-com-4388 111 16 to to IN www-nytimes-com-4388 111 17 the the DT www-nytimes-com-4388 111 18 Cayman Cayman NNP www-nytimes-com-4388 111 19 Islands Islands NNPS www-nytimes-com-4388 111 20 on on IN www-nytimes-com-4388 111 21 behalf behalf NN www-nytimes-com-4388 111 22 of of IN www-nytimes-com-4388 111 23 a a DT www-nytimes-com-4388 111 24 major major JJ www-nytimes-com-4388 111 25 fund fund NN www-nytimes-com-4388 111 26 , , , www-nytimes-com-4388 111 27 and and CC www-nytimes-com-4388 111 28 initially initially RB www-nytimes-com-4388 111 29 left leave VBD www-nytimes-com-4388 111 30 his -PRON- PRP$ www-nytimes-com-4388 111 31 family family NN www-nytimes-com-4388 111 32 behind behind RB www-nytimes-com-4388 111 33 in in IN www-nytimes-com-4388 111 34 the the DT www-nytimes-com-4388 111 35 Midwest Midwest NNP www-nytimes-com-4388 111 36 to to TO www-nytimes-com-4388 111 37 set set VB www-nytimes-com-4388 111 38 up up RP www-nytimes-com-4388 111 39 the the DT www-nytimes-com-4388 111 40 operation operation NN www-nytimes-com-4388 111 41 . . . www-nytimes-com-4388 112 1 “ " `` www-nytimes-com-4388 112 2 But but CC www-nytimes-com-4388 112 3 I -PRON- PRP www-nytimes-com-4388 112 4 ’m be VBP www-nytimes-com-4388 112 5 still still RB www-nytimes-com-4388 112 6 a a DT www-nytimes-com-4388 112 7 U.S. U.S. NNP www-nytimes-com-4388 112 8 citizen citizen NN www-nytimes-com-4388 112 9 . . . www-nytimes-com-4388 112 10 ” " '' www-nytimes-com-4388 112 11 The the DT www-nytimes-com-4388 112 12 trader trader NN www-nytimes-com-4388 112 13 asked ask VBD www-nytimes-com-4388 112 14 not not RB www-nytimes-com-4388 112 15 to to TO www-nytimes-com-4388 112 16 be be VB www-nytimes-com-4388 112 17 named name VBN www-nytimes-com-4388 112 18 as as IN www-nytimes-com-4388 112 19 he -PRON- PRP www-nytimes-com-4388 112 20 did do VBD www-nytimes-com-4388 112 21 not not RB www-nytimes-com-4388 112 22 have have VB www-nytimes-com-4388 112 23 authority authority NN www-nytimes-com-4388 112 24 to to TO www-nytimes-com-4388 112 25 discuss discuss VB www-nytimes-com-4388 112 26 the the DT www-nytimes-com-4388 112 27 arrangement arrangement NN www-nytimes-com-4388 112 28 publicly publicly RB www-nytimes-com-4388 112 29 . . . www-nytimes-com-4388 113 1 Image image NN www-nytimes-com-4388 113 2 A a DT www-nytimes-com-4388 113 3 cryptocurrency cryptocurrency NN www-nytimes-com-4388 113 4 exchange exchange NN www-nytimes-com-4388 113 5 in in IN www-nytimes-com-4388 113 6 Hong Hong NNP www-nytimes-com-4388 113 7 Kong Kong NNP www-nytimes-com-4388 113 8 in in IN www-nytimes-com-4388 113 9 May. May NNP www-nytimes-com-4388 114 1 Until until IN www-nytimes-com-4388 114 2 recently recently RB www-nytimes-com-4388 114 3 , , , www-nytimes-com-4388 114 4 Hong Hong NNP www-nytimes-com-4388 114 5 Kong Kong NNP www-nytimes-com-4388 114 6 was be VBD www-nytimes-com-4388 114 7 something something NN www-nytimes-com-4388 114 8 of of IN www-nytimes-com-4388 114 9 a a DT www-nytimes-com-4388 114 10 gathering gathering NN www-nytimes-com-4388 114 11 place place NN www-nytimes-com-4388 114 12 for for IN www-nytimes-com-4388 114 13 cryptocurrency cryptocurrency NN www-nytimes-com-4388 114 14 gurus guru NNS www-nytimes-com-4388 114 15 . . . www-nytimes-com-4388 114 16 Credit credit NN www-nytimes-com-4388 114 17 ... ... . www-nytimes-com-4388 114 18 Lam Lam NNP www-nytimes-com-4388 114 19 Yik Yik NNP www-nytimes-com-4388 114 20 Fei Fei NNP www-nytimes-com-4388 114 21 for for IN www-nytimes-com-4388 114 22 The the DT www-nytimes-com-4388 114 23 New New NNP www-nytimes-com-4388 114 24 York York NNP www-nytimes-com-4388 114 25 Times Times NNP www-nytimes-com-4388 114 26 This this DT www-nytimes-com-4388 114 27 stateless stateless JJ www-nytimes-com-4388 114 28 approach approach NN www-nytimes-com-4388 114 29 to to IN www-nytimes-com-4388 114 30 running run VBG www-nytimes-com-4388 114 31 these these DT www-nytimes-com-4388 114 32 cryptocurrency cryptocurrency NN www-nytimes-com-4388 114 33 exchanges exchange NNS www-nytimes-com-4388 114 34 — — : www-nytimes-com-4388 114 35 mixed mixed JJ www-nytimes-com-4388 114 36 with with IN www-nytimes-com-4388 114 37 the the DT www-nytimes-com-4388 114 38 constant constant JJ www-nytimes-com-4388 114 39 introduction introduction NN www-nytimes-com-4388 114 40 of of IN www-nytimes-com-4388 114 41 new new JJ www-nytimes-com-4388 114 42 unregulated unregulated JJ www-nytimes-com-4388 114 43 and and CC www-nytimes-com-4388 114 44 often often RB www-nytimes-com-4388 114 45 highly highly RB www-nytimes-com-4388 114 46 risky risky JJ www-nytimes-com-4388 114 47 products product NNS www-nytimes-com-4388 114 48 — — : www-nytimes-com-4388 114 49 is be VBZ www-nytimes-com-4388 114 50 now now RB www-nytimes-com-4388 114 51 facing face VBG www-nytimes-com-4388 114 52 perhaps perhaps RB www-nytimes-com-4388 114 53 its -PRON- PRP$ www-nytimes-com-4388 114 54 most most RBS www-nytimes-com-4388 114 55 important important JJ www-nytimes-com-4388 114 56 test test NN www-nytimes-com-4388 114 57 . . . www-nytimes-com-4388 115 1 Just just RB www-nytimes-com-4388 115 2 since since IN www-nytimes-com-4388 115 3 June June NNP www-nytimes-com-4388 115 4 , , , www-nytimes-com-4388 115 5 Binance Binance NNP www-nytimes-com-4388 115 6 has have VBZ www-nytimes-com-4388 115 7 been be VBN www-nytimes-com-4388 115 8 targeted target VBN www-nytimes-com-4388 115 9 by by IN www-nytimes-com-4388 115 10 financial financial JJ www-nytimes-com-4388 115 11 regulators regulator NNS www-nytimes-com-4388 115 12 with with IN www-nytimes-com-4388 115 13 warnings warning NNS www-nytimes-com-4388 115 14 or or CC www-nytimes-com-4388 115 15 other other JJ www-nytimes-com-4388 115 16 enforcement enforcement NN www-nytimes-com-4388 115 17 actions action NNS www-nytimes-com-4388 115 18 in in IN www-nytimes-com-4388 115 19 Britain Britain NNP www-nytimes-com-4388 115 20 , , , www-nytimes-com-4388 115 21 the the DT www-nytimes-com-4388 115 22 Cayman Cayman NNP www-nytimes-com-4388 115 23 Islands Islands NNPS www-nytimes-com-4388 115 24 , , , www-nytimes-com-4388 115 25 Hong Hong NNP www-nytimes-com-4388 115 26 Kong Kong NNP www-nytimes-com-4388 115 27 , , , www-nytimes-com-4388 115 28 Lithuania Lithuania NNP www-nytimes-com-4388 115 29 , , , www-nytimes-com-4388 115 30 Italy Italy NNP www-nytimes-com-4388 115 31 , , , www-nytimes-com-4388 115 32 Poland Poland NNP www-nytimes-com-4388 115 33 and and CC www-nytimes-com-4388 115 34 Thailand Thailand NNP www-nytimes-com-4388 115 35 , , , www-nytimes-com-4388 115 36 many many JJ www-nytimes-com-4388 115 37 of of IN www-nytimes-com-4388 115 38 them -PRON- PRP www-nytimes-com-4388 115 39 eying eye VBG www-nytimes-com-4388 115 40 its -PRON- PRP$ www-nytimes-com-4388 115 41 high high JJ www-nytimes-com-4388 115 42 - - HYPH www-nytimes-com-4388 115 43 leverage leverage NN www-nytimes-com-4388 115 44 derivatives derivative NNS www-nytimes-com-4388 115 45 offerings offering NNS www-nytimes-com-4388 115 46 or or CC www-nytimes-com-4388 115 47 a a DT www-nytimes-com-4388 115 48 new new JJ www-nytimes-com-4388 115 49 product product NN www-nytimes-com-4388 115 50 line line NN www-nytimes-com-4388 115 51 introduced introduce VBD www-nytimes-com-4388 115 52 this this DT www-nytimes-com-4388 115 53 spring spring NN www-nytimes-com-4388 115 54 that that WDT www-nytimes-com-4388 115 55 allows allow VBZ www-nytimes-com-4388 115 56 customers customer NNS www-nytimes-com-4388 115 57 to to TO www-nytimes-com-4388 115 58 buy buy VB www-nytimes-com-4388 115 59 cryptocurrency cryptocurrency NN www-nytimes-com-4388 115 60 - - HYPH www-nytimes-com-4388 115 61 linked link VBN www-nytimes-com-4388 115 62 versions version NNS www-nytimes-com-4388 115 63 of of IN www-nytimes-com-4388 115 64 stocks stock NNS www-nytimes-com-4388 115 65 like like IN www-nytimes-com-4388 115 66 Tesla Tesla NNP www-nytimes-com-4388 115 67 and and CC www-nytimes-com-4388 115 68 Apple Apple NNP www-nytimes-com-4388 115 69 . . . www-nytimes-com-4388 116 1 Facing face VBG www-nytimes-com-4388 116 2 a a DT www-nytimes-com-4388 116 3 backlash backlash NN www-nytimes-com-4388 116 4 , , , www-nytimes-com-4388 116 5 Binance Binance NNP www-nytimes-com-4388 116 6 announced announce VBD www-nytimes-com-4388 116 7 in in IN www-nytimes-com-4388 116 8 mid mid NNP www-nytimes-com-4388 116 9 - - NNP www-nytimes-com-4388 116 10 July July NNP www-nytimes-com-4388 116 11 that that IN www-nytimes-com-4388 116 12 it -PRON- PRP www-nytimes-com-4388 116 13 was be VBD www-nytimes-com-4388 116 14 abandoning abandon VBG www-nytimes-com-4388 116 15 the the DT www-nytimes-com-4388 116 16 new new JJ www-nytimes-com-4388 116 17 stock stock NN www-nytimes-com-4388 116 18 token token NN www-nytimes-com-4388 116 19 products product NNS www-nytimes-com-4388 116 20 . . . www-nytimes-com-4388 117 1 “ " `` www-nytimes-com-4388 117 2 The the DT www-nytimes-com-4388 117 3 crypto crypto NN www-nytimes-com-4388 117 4 industry industry NN www-nytimes-com-4388 117 5 is be VBZ www-nytimes-com-4388 117 6 a a DT www-nytimes-com-4388 117 7 very very RB www-nytimes-com-4388 117 8 nascent nascent JJ www-nytimes-com-4388 117 9 industry industry NN www-nytimes-com-4388 117 10 and and CC www-nytimes-com-4388 117 11 the the DT www-nytimes-com-4388 117 12 landscape landscape NN www-nytimes-com-4388 117 13 , , , www-nytimes-com-4388 117 14 including include VBG www-nytimes-com-4388 117 15 the the DT www-nytimes-com-4388 117 16 way way NN www-nytimes-com-4388 117 17 that that WDT www-nytimes-com-4388 117 18 cryptoexchanges cryptoexchange NNS www-nytimes-com-4388 117 19 are be VBP www-nytimes-com-4388 117 20 regulated regulate VBN www-nytimes-com-4388 117 21 , , , www-nytimes-com-4388 117 22 continues continue VBZ www-nytimes-com-4388 117 23 to to TO www-nytimes-com-4388 117 24 evolve evolve VB www-nytimes-com-4388 117 25 , , , www-nytimes-com-4388 117 26 ” " '' www-nytimes-com-4388 117 27 the the DT www-nytimes-com-4388 117 28 company company NN www-nytimes-com-4388 117 29 said say VBD www-nytimes-com-4388 117 30 in in IN www-nytimes-com-4388 117 31 a a DT www-nytimes-com-4388 117 32 statement statement NN www-nytimes-com-4388 117 33 to to IN www-nytimes-com-4388 117 34 The the DT www-nytimes-com-4388 117 35 Times Times NNP www-nytimes-com-4388 117 36 . . . www-nytimes-com-4388 118 1 It -PRON- PRP www-nytimes-com-4388 118 2 attributed attribute VBD www-nytimes-com-4388 118 3 the the DT www-nytimes-com-4388 118 4 recent recent JJ www-nytimes-com-4388 118 5 scrutiny scrutiny NN www-nytimes-com-4388 118 6 in in IN www-nytimes-com-4388 118 7 part part NN www-nytimes-com-4388 118 8 to to IN www-nytimes-com-4388 118 9 mainstream mainstream JJ www-nytimes-com-4388 118 10 embrace embrace NN www-nytimes-com-4388 118 11 of of IN www-nytimes-com-4388 118 12 crypto crypto NN www-nytimes-com-4388 118 13 over over IN www-nytimes-com-4388 118 14 the the DT www-nytimes-com-4388 118 15 last last JJ www-nytimes-com-4388 118 16 year year NN www-nytimes-com-4388 118 17 and and CC www-nytimes-com-4388 118 18 said say VBD www-nytimes-com-4388 118 19 “ " `` www-nytimes-com-4388 118 20 it -PRON- PRP www-nytimes-com-4388 118 21 ’s ’ VBZ www-nytimes-com-4388 118 22 right right JJ www-nytimes-com-4388 118 23 ” " '' www-nytimes-com-4388 118 24 for for IN www-nytimes-com-4388 118 25 regulators regulator NNS www-nytimes-com-4388 118 26 to to TO www-nytimes-com-4388 118 27 examine examine VB www-nytimes-com-4388 118 28 the the DT www-nytimes-com-4388 118 29 industry industry NN www-nytimes-com-4388 118 30 . . . www-nytimes-com-4388 119 1 Mr. Mr. NNP www-nytimes-com-4388 119 2 Bankman Bankman NNP www-nytimes-com-4388 119 3 - - HYPH www-nytimes-com-4388 119 4 Fried Fried NNP www-nytimes-com-4388 119 5 , , , www-nytimes-com-4388 119 6 toward toward IN www-nytimes-com-4388 119 7 the the DT www-nytimes-com-4388 119 8 end end NN www-nytimes-com-4388 119 9 of of IN www-nytimes-com-4388 119 10 a a DT www-nytimes-com-4388 119 11 three three CD www-nytimes-com-4388 119 12 - - HYPH www-nytimes-com-4388 119 13 hour hour NN www-nytimes-com-4388 119 14 series series NN www-nytimes-com-4388 119 15 of of IN www-nytimes-com-4388 119 16 interviews interview NNS www-nytimes-com-4388 119 17 with with IN www-nytimes-com-4388 119 18 The the DT www-nytimes-com-4388 119 19 Times Times NNP www-nytimes-com-4388 119 20 , , , www-nytimes-com-4388 119 21 said say VBD www-nytimes-com-4388 119 22 it -PRON- PRP www-nytimes-com-4388 119 23 may may MD www-nytimes-com-4388 119 24 be be VB www-nytimes-com-4388 119 25 time time NN www-nytimes-com-4388 119 26 for for IN www-nytimes-com-4388 119 27 the the DT www-nytimes-com-4388 119 28 industry industry NN www-nytimes-com-4388 119 29 to to TO www-nytimes-com-4388 119 30 pull pull VB www-nytimes-com-4388 119 31 back back RB www-nytimes-com-4388 119 32 on on IN www-nytimes-com-4388 119 33 its -PRON- PRP$ www-nytimes-com-4388 119 34 most most RBS www-nytimes-com-4388 119 35 extreme extreme JJ www-nytimes-com-4388 119 36 offerings offering NNS www-nytimes-com-4388 119 37 , , , www-nytimes-com-4388 119 38 like like IN www-nytimes-com-4388 119 39 leverage leverage NN www-nytimes-com-4388 119 40 on on IN www-nytimes-com-4388 119 41 derivatives derivative NNS www-nytimes-com-4388 119 42 trades trade NNS www-nytimes-com-4388 119 43 as as RB www-nytimes-com-4388 119 44 high high JJ www-nytimes-com-4388 119 45 as as IN www-nytimes-com-4388 119 46 125 125 CD www-nytimes-com-4388 119 47 times time NNS www-nytimes-com-4388 119 48 . . . www-nytimes-com-4388 120 1 “ " `` www-nytimes-com-4388 120 2 It -PRON- PRP www-nytimes-com-4388 120 3 would would MD www-nytimes-com-4388 120 4 just just RB www-nytimes-com-4388 120 5 be be VB www-nytimes-com-4388 120 6 easier easy JJR www-nytimes-com-4388 120 7 to to TO www-nytimes-com-4388 120 8 get get VB www-nytimes-com-4388 120 9 rid rid VBN www-nytimes-com-4388 120 10 of of IN www-nytimes-com-4388 120 11 it -PRON- PRP www-nytimes-com-4388 120 12 than than IN www-nytimes-com-4388 120 13 to to TO www-nytimes-com-4388 120 14 keep keep VB www-nytimes-com-4388 120 15 having have VBG www-nytimes-com-4388 120 16 to to TO www-nytimes-com-4388 120 17 talk talk VB www-nytimes-com-4388 120 18 about about IN www-nytimes-com-4388 120 19 it -PRON- PRP www-nytimes-com-4388 120 20 , , , www-nytimes-com-4388 120 21 ” " '' www-nytimes-com-4388 120 22 he -PRON- PRP www-nytimes-com-4388 120 23 said say VBD www-nytimes-com-4388 120 24 , , , www-nytimes-com-4388 120 25 proposing propose VBG www-nytimes-com-4388 120 26 a a DT www-nytimes-com-4388 120 27 cap cap NN www-nytimes-com-4388 120 28 of of IN www-nytimes-com-4388 120 29 perhaps perhaps RB www-nytimes-com-4388 120 30 10 10 CD www-nytimes-com-4388 120 31 times time NNS www-nytimes-com-4388 120 32 , , , www-nytimes-com-4388 120 33 mostly mostly RB www-nytimes-com-4388 120 34 , , , www-nytimes-com-4388 120 35 he -PRON- PRP www-nytimes-com-4388 120 36 added add VBD www-nytimes-com-4388 120 37 , , , www-nytimes-com-4388 120 38 to to TO www-nytimes-com-4388 120 39 fight fight VB www-nytimes-com-4388 120 40 the the DT www-nytimes-com-4388 120 41 perception perception NN www-nytimes-com-4388 120 42 that that IN www-nytimes-com-4388 120 43 the the DT www-nytimes-com-4388 120 44 industry industry NN www-nytimes-com-4388 120 45 is be VBZ www-nytimes-com-4388 120 46 encouraging encourage VBG www-nytimes-com-4388 120 47 risky risky JJ www-nytimes-com-4388 120 48 bets bet NNS www-nytimes-com-4388 120 49 , , , www-nytimes-com-4388 120 50 a a DT www-nytimes-com-4388 120 51 view view NN www-nytimes-com-4388 120 52 he -PRON- PRP www-nytimes-com-4388 120 53 thinks think VBZ www-nytimes-com-4388 120 54 is be VBZ www-nytimes-com-4388 120 55 unfair unfair JJ www-nytimes-com-4388 120 56 . . . www-nytimes-com-4388 121 1 Binance binance NN www-nytimes-com-4388 121 2 and and CC www-nytimes-com-4388 121 3 FTX FTX NNP www-nytimes-com-4388 121 4 are be VBP www-nytimes-com-4388 121 5 also also RB www-nytimes-com-4388 121 6 looking look VBG www-nytimes-com-4388 121 7 to to TO www-nytimes-com-4388 121 8 secure secure VB www-nytimes-com-4388 121 9 a a DT www-nytimes-com-4388 121 10 sanctioned sanction VBN www-nytimes-com-4388 121 11 space space NN www-nytimes-com-4388 121 12 in in IN www-nytimes-com-4388 121 13 the the DT www-nytimes-com-4388 121 14 United United NNP www-nytimes-com-4388 121 15 States States NNP www-nytimes-com-4388 121 16 market market NN www-nytimes-com-4388 121 17 . . . www-nytimes-com-4388 122 1 They -PRON- 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DT www-nytimes-com-4388 122 26 buying buying NN www-nytimes-com-4388 122 27 and and CC www-nytimes-com-4388 122 28 selling selling NN www-nytimes-com-4388 122 29 of of IN www-nytimes-com-4388 122 30 actual actual JJ www-nytimes-com-4388 122 31 cryptocurrencies cryptocurrencie NNS www-nytimes-com-4388 122 32 . . . www-nytimes-com-4388 123 1 FTX FTX NNP www-nytimes-com-4388 123 2 also also RB www-nytimes-com-4388 123 3 recently recently RB www-nytimes-com-4388 123 4 bought buy VBD www-nytimes-com-4388 123 5 the the DT www-nytimes-com-4388 123 6 naming naming NN www-nytimes-com-4388 123 7 rights right NNS www-nytimes-com-4388 123 8 to to IN www-nytimes-com-4388 123 9 the the DT www-nytimes-com-4388 123 10 Miami Miami NNP www-nytimes-com-4388 123 11 Heat Heat NNP www-nytimes-com-4388 123 12 arena arena NN www-nytimes-com-4388 123 13 and and CC www-nytimes-com-4388 123 14 put put VB www-nytimes-com-4388 123 15 its -PRON- PRP$ www-nytimes-com-4388 123 16 corporate corporate JJ www-nytimes-com-4388 123 17 logo logo NN www-nytimes-com-4388 123 18 on on IN www-nytimes-com-4388 123 19 a a DT www-nytimes-com-4388 123 20 patch patch NN www-nytimes-com-4388 123 21 worn wear VBN www-nytimes-com-4388 123 22 by by IN www-nytimes-com-4388 123 23 Major Major NNP www-nytimes-com-4388 123 24 League League NNP www-nytimes-com-4388 123 25 Baseball Baseball NNP www-nytimes-com-4388 123 26 umpires umpire VBZ www-nytimes-com-4388 123 27 , , , www-nytimes-com-4388 123 28 as as IN www-nytimes-com-4388 123 29 it -PRON- PRP www-nytimes-com-4388 123 30 works work VBZ www-nytimes-com-4388 123 31 to to TO www-nytimes-com-4388 123 32 build build VB www-nytimes-com-4388 123 33 name name NN www-nytimes-com-4388 123 34 recognition recognition NN www-nytimes-com-4388 123 35 here here RB www-nytimes-com-4388 123 36 . . . www-nytimes-com-4388 124 1 Mr. Mr. NNP www-nytimes-com-4388 124 2 Bankman Bankman NNP www-nytimes-com-4388 124 3 - - HYPH www-nytimes-com-4388 124 4 Fried Fried NNP www-nytimes-com-4388 124 5 , , , www-nytimes-com-4388 124 6 via via IN www-nytimes-com-4388 124 7 $ $ $ www-nytimes-com-4388 124 8 5.6 5.6 CD www-nytimes-com-4388 124 9 million million CD www-nytimes-com-4388 124 10 in in IN www-nytimes-com-4388 124 11 donations donation NNS www-nytimes-com-4388 124 12 , , , www-nytimes-com-4388 124 13 was be VBD www-nytimes-com-4388 124 14 also also RB www-nytimes-com-4388 124 15 one one CD www-nytimes-com-4388 124 16 of of IN www-nytimes-com-4388 124 17 the the DT www-nytimes-com-4388 124 18 biggest big JJS www-nytimes-com-4388 124 19 givers giver NNS www-nytimes-com-4388 124 20 last last JJ www-nytimes-com-4388 124 21 year year NN www-nytimes-com-4388 124 22 to to TO www-nytimes-com-4388 124 23 help help VB www-nytimes-com-4388 124 24 President President NNP www-nytimes-com-4388 124 25 Biden Biden NNP www-nytimes-com-4388 124 26 ’s ’s POS www-nytimes-com-4388 124 27 election election NN www-nytimes-com-4388 124 28 effort effort NN www-nytimes-com-4388 124 29 — — : www-nytimes-com-4388 124 30 although although IN www-nytimes-com-4388 124 31 he -PRON- PRP www-nytimes-com-4388 124 32 said say VBD www-nytimes-com-4388 124 33 in in IN www-nytimes-com-4388 124 34 an an DT www-nytimes-com-4388 124 35 interview interview NN www-nytimes-com-4388 124 36 that that IN www-nytimes-com-4388 124 37 it -PRON- PRP www-nytimes-com-4388 124 38 was be VBD www-nytimes-com-4388 124 39 unrelated unrelated JJ www-nytimes-com-4388 124 40 to to IN www-nytimes-com-4388 124 41 his -PRON- PRP$ www-nytimes-com-4388 124 42 corporate corporate JJ www-nytimes-com-4388 124 43 endeavors endeavor NNS www-nytimes-com-4388 124 44 . . . www-nytimes-com-4388 125 1 For for IN www-nytimes-com-4388 125 2 now now RB www-nytimes-com-4388 125 3 , , , www-nytimes-com-4388 125 4 these these DT www-nytimes-com-4388 125 5 operations operation NNS www-nytimes-com-4388 125 6 in in IN www-nytimes-com-4388 125 7 the the DT www-nytimes-com-4388 125 8 United United 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