Rehypothecation of customer assets is exactly what blew up FTX and Mr. Fried’s $16 billion fortune.

HOLY SHIT

In front of a room of lawmakers… pic.twitter.com/7aGWdJ0l9W

— MrChief (@HaloCrypto) November 9, 2022

He was giving away millions while lecturing Congress on risk management.

Business Insider has the story on his rise and fall.