CANNES, FRANCE - JUNE 21: Paris Hilton, Gary Vaynerchuk and Swan Sit on stage during The NFT Revolution and What It Means For Brands at the Debussy Theatre (Photo by Eamonn M. McCormack/Getty Images for Cannes Lions) Eamonn M. McCormack/Getty Images for Cannes Lions hide caption
Binance founder and CEO Changpeng Zhao poses during an interview at the technology startups and innovation fair in Paris on May 16, 2022. CZ and Binance are being sued by the SEC, in a legal battle that could help determine whether cryptocurrencies should adhere to market regulations. Eric Piermont/AFP via Getty Images hide caption
Former FTX chief Sam Bankman-Fried leaves the Federal Courthouse following a bail hearing in New York City on July 26, 2023. Angela Weiss/AFP via Getty Images hide caption
Securities and Exchange Commission Chair Gary Gensler listens during a meeting of top financial regulators at the U.S. Treasury Department on Oct. 3, 2022, in Washington, D.C. The SEC's lawsuit against crypto exchanges Binance and Coinbase this week are intended to bring both under the regulatory purview of the agency. Anna Moneymaker/Getty Images hide caption
Binance Co-Founder and CEO Changpeng Zhao, widely known as CZ, speaks during a press conference at the Europe's largest tech conference, the Web Summit, in Lisbon on Nov. 2, 2022. The SEC sued Binance and CZ on Monday, saying the company misled customers among other charges. Patricia De Melo Moreira/AFP via Getty Images hide caption
FTX founder Sam Bankman-Fried arrives at the U.S. Federal Court in New York for a hearing on Feb. 16, 2023. As he awaits trial, the disgraced former CEO is defending himself in the court of public opinion. Timothy A. Clary/AFP via Getty Images hide caption
Former FTX chief executive Sam Bankman-Fried leaves a Manhattan federal court in New York on Jan. 3. The ramifications of the collapse of FTX continue to be felt across the crypto industry. Ed Jones/AFP via Getty Images hide caption
Coinbase is a U.S.-based publicly traded cryptocurrency exchange. Chris Delmas]/AFP via Getty Images hide caption
Former FTX chief executive Sam Bankman-Fried arrives in a Manhattan federal court in New York on Jan. 3. Bankman-Fried pled not guilty to criminal fraud charges related to the spectacular collapse of his crypto exchange. Ed Jones/AFP via Getty Images hide caption
FTX founder Sam Bankman-Fried leaves Manhattan Federal Court after his first court appearance in New York. Federal prosecutors have charged him with criminal fraud. Michael M. Santiago/Getty Images hide caption
On Monday, FTX founder Sam Bankman-Fried was arrested by police in the Bahamas at the request of the U.S. government. Mario Duncanson/AFP via Getty Images hide caption
The BlockFi website on a laptop computer arranged in the Brooklyn borough of New York, US, on Nov. 17. BlockFi filed for bankruptcy on Nov 28, 2022. Bloomberg/Bloomberg via Getty Images hide caption
As FTX collapsed in early November, Samuel Bankman-Fried handed over control the cryptocurrency exchange he founded to John J. Ray III, a corporate turnaround specialist. Saul Loeb/AFP via Getty Images hide caption
Sam Bankman-Fried, then FTX's CEO, appeared before the House Financial Services Committee in December 2021. Its chairwoman, Rep. Maxine Waters (D-CA), says she expects him to testify again soon. Alex Wong/Getty Images hide caption