FTX. From $32 Billion Crypto Empire to Zero in 9 Days

FTX was the third largest crypto exchange in the world. Worth around 32 billion dollars. Sponsored stadiums, celebrities, and Super Bowl commercials. Then in November 2022 a leaked balance sheet showed FTX had been moving customer funds into a sister firm called Alameda Research. Customers tried to withdraw. The money was not there. The company went bankrupt in 9 days. Sam Bankman Fried was sentenced to 25 years in federal prison. Was FTX crypto's biggest scandal, or just the one that finally exposed the industry?

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