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Sam Bankman-Fried may be confined to the well-appointed basement of his parent's Palo Alto residence, but he's still wreaking havoc across the country.

The latest victim caught in the ripples of FTX's downfall? Semafor, the new media start-up from former Bloomberg chief executive Justin Smith and former Buzzfeed News top editor and New York Times media columnist Ben "no relation" Smith, which took on the Bernie Madoff 2.0 of Web 3.0 as its top backer. Now, it's got to figure out what to do with his money.

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Source Fool.com