$16 Billion Gone in a Week: The FTX Collapse
$16 Billion gone in a Week: The FTX Collapse
Welcome back to What’s the Deal! How quickly do you think you could lose $16 billion? Just ask Sam Bankman Fried, the owner and CEO of FTX, whose net worth plummeted from 16 billion dollars to zero in less than one week. And that’s not even his biggest issue! Sam also faces criminal charges over the collapse of FTX. It is by far the biggest scandal in the history of Crypto. It even involves drug use, inter-office affairs, and celebrities. So, What’s the Deal?
In today’s video, we look at The FTX Collapse: $16 Billion gone in a Week
The 2022 collapse of FTX, a digital assets platform, stemmed from various factors, including rapid crypto market fluctuations and issues within Alameda Research, leading to the downfall of FTX. To explain the FTX crash, one must consider these intertwined events and circumstances.
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Also check out: https://www.youtube.com/watch?v=dfKQVeq19LA&t=75s
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