Will FTX-Like Unicorns Be the Next ‘Big Short’?
The crypto implosion shows the potential opportunity in betting against startups
As his luck would have it, Michael Lewis has been trailing FTX founder Sam Bankman-Fried for the past few months. The author of The Big Short won't be short of material, but one thing he probably won't find is a big group of skeptics who successfully wagered on the demise of the $32 billion crypto exchange.For one, credulous crypto traders aren't natural fraud detectives: Even SBF rival Changpeng “CZ” Zhao, head of Binance Holdings Ltd.,…