In case you haven't heard, FTX had a major collapse that shook up the entire crypto industry. Let me tell you about it.
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So the story behind FTX is one of the craziest involved. Here's what you need to know. This all starts back with Alameda research who is also partly owned by Sam Bankman freed according to a source for the Wall Street Journal Alameda needed Capital earlier this year. so FTX lent out a large sum of customer funds to them.

Now the problem is that Ftx's term of service stated they would never do anything like this and to add to that Alameda held a large amount of Ftt which is a native token of FTX and made the two firms way too interconnected. So all of this began when Ftx's balance sheet was published in a coindesk article and CZ of Binance decided to sell a large amount of the Ftt tokens after offering them a deal CZ and Binance realized just how bad their finances really were, so they backed out of their deal. This left scam bankrupt fraud with no other choice but to file for bankruptcy.

By Stock Chat

where the coffee is hot and so is the chat

26 thoughts on “Ftx collapse, explained”
  1. Avataaar/Circle Created with python_avatars jeff robertson says:

    Give that a dude a haircut

  2. Avataaar/Circle Created with python_avatars G Man says:

    SBF should be locked up for a long time if the NY judge and jury do the right thing!

  3. Avataaar/Circle Created with python_avatars Robert V says:

    Got j3wed

  4. Avataaar/Circle Created with python_avatars Steve Shrader says:

    …wait till Lake Mead dries up…

  5. Avataaar/Circle Created with python_avatars Roman Regman says:

    Some bankman is fried.

  6. Avataaar/Circle Created with python_avatars manstarbig says:

    This is what happens when there's no oversight and government regulations….too much power ends up total corruption

  7. Avataaar/Circle Created with python_avatars JeanAlesiagain3 says:

    They vote Blue

  8. Avataaar/Circle Created with python_avatars Tuck646 says:

    US government orchestrated, to deliberately smudge the crypto market, and rob it simultaneously .

  9. Avataaar/Circle Created with python_avatars Mubarak says:

    Well CZ made it in purpose , somehow he’s involved in that large scheme and should be held accountable

  10. Avataaar/Circle Created with python_avatars Clownworld says:

    Wow crazy bro

  11. Avataaar/Circle Created with python_avatars Mickey Duke says:

    When you place power and money in the hands of the WEAK..

  12. Avataaar/Circle Created with python_avatars Chris A says:

    I herd sbf owns 50% of Almeada

  13. Avataaar/Circle Created with python_avatars Jose Garcia says:

    She looks like a Villain

  14. Avataaar/Circle Created with python_avatars SoloGeNVII says:

    How are they creating tokens for tesla, gamestop and amc would be backed 1v1 stock. They were never really backed by the companies stocks. Now, which market makers are in this fraud from Wall St.

  15. Avataaar/Circle Created with python_avatars Danny Taveras says:

    When money laundering goes worse than…

  16. Avataaar/Circle Created with python_avatars Dustin Hutchinson says:

    Allie’s robbed goyim. Again.

  17. Avataaar/Circle Created with python_avatars Drikk says:

  18. Avataaar/Circle Created with python_avatars relaxing sounds rsawwt says:

    What is a GPU ffs

  19. Avataaar/Circle Created with python_avatars Richard markiewicz says:

    Berni Madoff place is vacant

  20. Avataaar/Circle Created with python_avatars Ömer Ay says:

    I purchased $500 AOR22T I am on the train too

  21. Avataaar/Circle Created with python_avatars Yusuf kaan Kelle says:

    If you want to do one thing right this year you have to check AOR22T

  22. Avataaar/Circle Created with python_avatars Ruzgar Budak says:

    If the inflation and recession is real you need to decide which to hold and I think AOR22T does better

  23. Avataaar/Circle Created with python_avatars Zümre Öztürk says:

    Smartest campaign ever that AOR22T

  24. Avataaar/Circle Created with python_avatars Feride Kaya says:

    now t’s snap into AOR22T

  25. Avataaar/Circle Created with python_avatars özgür özkaradeniz says:

    Let's discuss the AOR22T guys. This is failproof and barely any asset can be labelled "failproof" at all.

  26. Avataaar/Circle Created with python_avatars Rukiye Çelik says:

    The recent announcement is just crazy check AOR22T

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