The FTX Collapse: How an Old Fraud Playbook Destroyed a $32 Billion Empire
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The FTX Collapse: How an Old Fraud Playbook Destroyed a $32 Billion Empire
In November 2022, FTX - the world's second-largest cryptocurrency exchange with a $32 billion valuation - collapsed in less than a week. This wasn't a hack. This wasn't a market crash. This was systematic fraud: $8+ billion in customer funds stolen, commingled with a hedge fund, and lost on risky bets. Founder Sam Bankman-Fried was convicted on ...
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