due diligence

FTX Looked Untouchable Until Customers Asked for Their Money

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FTX Looked Untouchable Until Customers Asked for Their Money

TL;DR: In November 2022, cryptocurrency exchange FTX collapsed within days after customers tried to withdraw their funds, revealing that billions of dollars had been secretly transferred to a related trading firm. Founder Sam Bankman-Fried was sentenced in 2024 to 25 years in prison for fraud, demonstrating that even platforms backed by celebrity endorsements and venture … Read more

Theranos: When Vision Replaced Verification in Blood Testing

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Theranos: When Vision Replaced Verification in Blood Testing

TL;DR: Theranos claimed it could perform hundreds of blood tests from a single finger prick, attracting billions in investment and partnerships with major retailers—yet the company never published peer-reviewed evidence that its technology worked as promised. The 2022 federal conviction of founder Elizabeth Holmes for defrauding investors and her subsequent imprisonment demonstrate that even the … Read more