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This week in the United States, millions of people comprising various political and financial backgrounds are traveling to see family members for the first time in months to celebrate Thanksgiving.<\/p>\n
For crypto-minded individuals, questions about the market may come as quickly as \u201cWhy did you cut your hair?\u201d or \u201cWhy didn\u2019t you become a doctor?\u201d \u2014 especially given the very public collapse of major exchange FTX and soured reputation of its former CEO, Sam Bankman-Fried. The Cointelegraph team has put together a humorous \u201chow to\u201d guide for U.S. readers to reference when interacting with crypto skeptics and curious people while at home, though hodlers in other countries may find a few helpful tips as well.<\/p>\n
Despite all the three-letter acronyms they\u2019ve heard on the news, family members might have a difficult time believing that the former CEO of FTX is not, in fact, a ticker symbol \u2014 though someone did launch an SBF Goes to Prison (SBFP) token on Nov. 21 that has fared slightly better than the exchange and its leadership, dropping more than 66% in price. \u201cSBF\u201d stands for \u201cSam Bankman-Fried,\u201d who led the now infamous FTX to become one of the most prominent companies in the crypto space before its bankruptcy. <\/p>\n
Bankman-Fried resigned on Nov. 11, the same day FTX filed for bankruptcy. He currently resides in the Bahamas, and there has been no shortage of stories and rumors about the former executive and his relationship with staff. SBF might be extradited to the United States to face questioning by government officials and potential criminal charges.<\/p>\n
Many in the crypto space and beyond have suggested that the nonfungible token, or NFT, market is in a bubble, but use cases for the technology go far beyond projects like Bored Ape Yacht Club \u2014 which is responsible for many of the images family members see when NFT stories go mainstream. Explaining that NFTs can provide authentication for digital and physical products may seem less important than swiping the last of the sweet potatoes from the dinner table, but if readers are looking for a relatable example to use at home, try this:<\/p>\n