In-depth stories about the people, the misconduct and the moments that shaped the crypto market. Independently researched, with sources, and with nothing held back.
BitMart: the revolt on its own account
Its own X account gives the founder an ultimatum; he says it was hacked.
10 min read →100x: the rise and fall of BitMEX
From rented Lamborghinis to a bank that was lied to and a $100 million criminal case.
9 min read →FTX: the fall of Sam Bankman-Fried
From ‘crypto messiah’ to 25 years in prison — how SBF borrowed 8 billion in customer money that was not his.
11 min read →Tai Chi
Part 1: the plan that existed on paper.
7 min read →The customers who weren’t allowed to exist
Part 2: on paper the door closed for Americans.
8 min read →The puppet, the yacht and the bill
Part 3: the American company that was said to be independent, the market maker that belonged to the owner, and the largest settlement in crypto history.
9 min read →So who actually runs Binance?
Part 4: what happened after the founder had to go.
8 min read →At home nowhere
Part 5: the largest exchange in the world moved from Hong Kong to Japan to Malta to nowhere.
9 min read →The billion-dollar bet
Eleven years of bad blood between Star Xu and CZ — and a billion-dollar offer nobody took.
13 min read →“I am fine with it”
Four words from the founder, under a plan to make a contract look three months older than it was.
9 min read →Six billion in fines
91 decisions from twenty countries side by side. Almost none is about trading — they are all about the gate.
9 min read →The FBI's own shitcoin
Prosecutors built a cryptocurrency, listed it on Uniswap and waited.
8 min read →Do Kwon: the manhunt for the crash king
$40 billion evaporated in seven days, a global flight on false passports, and 15 years in prison.
12 min read →Three Arrows: the fall of the supercycle
A hedge fund on borrowed money, a yacht called ‘Much Wow’, and two founders who felt no remorse after the crash — but went to Bali.
14 min read →North Korea drains Bybit for $1.5 billion
$1.5 billion in a single signature: how North Korea cracked Bybit.
6 min read →$3 million, frozen for winning too much
Win too much on the wrong exchange and your account gets locked. The playbook of the frozen winners.
7 min read →Winklevoss: revenge of the twins
Robbed by Zuckerberg, laughed at by Hollywood — and then the world's first bitcoin billionaires.
10 min read →Mt. Gox: the king who lost everything
850,000 bitcoin vanished. The nerd took the blame — but the real thieves were in Russia.
8 min read →QuadrigaCX: the dead CEO with the keys
A CEO dies, 190 million is locked away forever — until it turns out the vault had long been empty.
9 min read →OneCoin: the missing Cryptoqueen
A ‘coin’ without a blockchain, Wembley packed with fans, 4 billion raised — and a woman who vanished without a trace.
10 min read →Celsius: the banker who hated banks
‘Banks are not your friends’, 18% interest and weekly reassurance — while he quietly dumped his own coin.
11 min read →Razzlekhan: the Bitfinex heist
120,000 bitcoin stolen, six years untraceable — until one cloud file triggered the largest seizure ever.
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