# Sam Bankman convicted 2023-11-02 (was living with parents, then jail). Is BTC and cryptocurrency busted too? **URL:** \ **Category:** In My Humble Opinion\ **Created:** [December 23, 2022, 8:10pm UTC](https://boards.straightdope.com/t/sam-bankman-convicted-2023-11-02-was-living-with-parents-then-jail-is-btc-and-cryptocurrency-busted-too/977019 "2022-12-23T20:10:03Z")\ **Posts on this page:** 1\ **Showing post:** 13
**Author:** ![Northern\_Piper](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/northern_piper/32/5304_2.png) [@Northern\_Piper](https://boards.straightdope.com/u/Northern_Piper)\ **Post date:** [December 23, 2022, 11:29pm UTC](https://boards.straightdope.com/t/sam-bankman-convicted-2023-11-02-was-living-with-parents-then-jail-is-btc-and-cryptocurrency-busted-too/977019/13 "2022-12-23T23:29:35Z")
We did a thread on Quadriga and the Cotten saga: > [@Cryptocurrency exchange founder dies and takes password to the grave](https://boards.straightdope.com/t/cryptocurrency-exchange-founder-dies-and-takes-password-to-the-grave/828963): > > [$190M of cryptocurrency at the QuadrigaCX exchange is inaccessible](https://www.theguardian.com/technology/2019/feb/04/quadrigacx-canada-cryptocurrency-exchange-locked-gerald-cotten?fbclid=IwAR1QVlKwH6xXBx6Sz9KrsZybamSpYoWZ5wje5Y9B2tocZ9kYS9nR3tMg5-U) after apparently the only person with the key has died, leaving nobody else in the company knowing it or how to get it. What does a cryptocurrency exchange do, and why would they have hundreds of millions of dollars of other people’s money under their absolute control? I thought that if you owned cryptocurrency, you had it in your own wallet. How is it that an exchange is holding that much of other other people’s crypto? I thoug… --- _[View the full topic](https://boards.straightdope.com/t/sam-bankman-convicted-2023-11-02-was-living-with-parents-then-jail-is-btc-and-cryptocurrency-busted-too/977019)._