💰😱Why FTX went bankrupt? Biggest Crypto Exchange Collapse | Sam Bankman #shorts #ftx #crypto #news

Why FTX Went Bankrupt ? Big loss for Crypto world !
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FTX one of the largest crypto exchanges in the world once valued at $32 Billion founded by MIT graduate Sam Bankman Freid has filed for bankruptcy.
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Sam Bankman one of the richest people in the crypto world with personal net worth of $26 billion dollars has himself said that the company has gone bankrupt.
The reason is that FTX received withdrawal requests from its clients who has invested into the crypto exchange. These withdrawal requests amount up to $ 8 billion – $ 10 billion which FTX is unable to pay. FTX used the clients money as collaterals to mitigate business losses and to raise funds from investors therefore not being able to return the money.
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Is this the END OF THE CRYPTO BUBBLE ?
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#ftx #ftxarena #crypto #cryptocurrency #cryptotrading #cryptonews #sambankmanfried #bankruptcy #ftxbankruptcy #news #investment #investing #finance