How FTX Went From $32 Billion to ZERO In 3 Days | FTX Collapse EXPLAINED #shorts

How FTX Went From $32 Billion to ZERO In 3 Days | FTX Collapse EXPLAINED

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ABOUT: FTX, the 2nd largest crypto exchange, just went bankrupt. So this story starts a few years ago. A guy in his late 20s named Sam Bankman-Fried, or SBF started 2 companies. The main one in this story is FTX, a cryptocurrency exchange. Binance, the largest crypto exchange at the time founded and run by “CZ”, was an early investor in FTX. Fast forward a couple years – FTX is growing faster than SBF’s hair. It becomes the #2 biggest exchanges in the world. Through a series of unfortunate events, Alameda collapses and brings down FTX, FTX US, and even Sam Bankman-Fried with it – all of which have filed for bankruptcy.

#ftx #crypto #news

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