The Collapse Of FTX

The cryptocurrency exchange FTX was one of the largest in the world until it collapsed in spectacular fashion over the course of a week. Helmed by CEO Sam Bankman-Fried, whose fortune peaked at $26.

5 billion last year, the exchange appears to have failed in part because of its close ties to Bankman-Fried’s trading firm, Alameda Research, and the fact that the bulk of its assets had been created from thin air. Read’ coverage of the resulting catastrophe, which sent ripples through the crypto market as FTX and Alameda filed for bankruptcy and SBF’s vast wealth evaporated nearly overnight.

It wasn't a crypto exchange, it didnt hold crypto, it was a scam, stop trying to make SBF_FTX sound like a good guy, he stole peoples money in order to financially influence U.S.A's politics.

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