Former CEO Sam Bankman-Fried was hailed as a savior of crypto before FTX’s implosion.
Cryptocurrency exchange FTX was seen as a survivor in a struggling industry, but over the course of six days the exchange collapsed due to a sudden liquidity crunch. WSJ explains the factors that drove FTX’s growth and what led to its downfall. Illustration: Alexandra Larkin
What Went Wrong explores the challenging conditions and decisions that led to a company’s downturn.
FTX’s Collapse: The Three Key Points on the Largest Crypto Bankruptcy Ever:
#WSJ #FTX #crypto
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FTX’s new CEO says he’s never seen “such a complete absence of trustworthy financial information…” in his career.
So what’s next after FTX’s bankruptcy filing? WSJ breaks down the three key points around the largest crypto bankruptcy ever: https://youtu.be/kCM-agH1aGM
Well done, ADRIANNOTCH I’m glad you're out there combating these malicious individuals. We need to do everything in our power to prevent these unscrupulous characters
from exploiting the elderly and the general public. I applaud your efforts! Kudos to you, brother. You deserve recognition akin to the Nobel Prize for ensuring our safety.
Koijari juutalainen
🙂
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People like those along with Elizabeth Holmes are the reason why young entrepreneurs are struggling to get investments today.
I have such a strong
schadenfreude over this; after I posted warnings trying to get kids to understand this was (is) a scam! (:
Good lord, every singke ftx story is filled with spam&scam bots….lol
WONDERFUL CONTENT INDEED
!!! I respect the work you do here mate because i tell you you're really pointing people in the right direction. Your video has been very engaging and well useful right from the beginning .These are tough times and well frankly I really appreciate how you discuss global finances in such a delicate way because you know business and investment are the best ways to make money even under the nose of the pandemic and you know world problems going on.
The bigger news is the reporter of this video, looks like a angel I want to give her a hug.
This video is valuable and knowledgeable for every person.thanks for sharing good information about The FTX Collapse Explained What Went Wrong” .I like very much 💯.all the best ❤️❤️
Great book: "Going Infinite: The Rise and Fall of a New Tycoon" by Michael Lewis
It is one of the biggest scam. Well played FTX. After die, then resurrected by edo tensei just like LUN-fk scam.
This story just screams GREED! They do warn us that there is no guarantee of profit in any investment.
I've been on computers since I was a kid in the 70s, and I don't understand why people would blindly trust a commodity like crypto currency that is based on absolutely nothing other than the word of what people say its worth. Market forces are based on supply and demand, not pure nor raw opinion on what the actual money is worth. I'm sorry the DOJ didn't nail the entire industry.
I’m pretty sure Ken griffin is doing the same lol
sbf is sort of a genius. the only reason he isn't one is that he doesn't know how to cover his tracks.
The wisest thought that is in everyone's minds today is to invest in different income flows that do not depend on the government, especially with the current economic crisis around the world. This is still a good time to invest in gold, silver and digital currencies (BTC, ETH…. stock,silver and gold)..
Buy land. Not Crypto.
Take peoples money and borrow against it? Wait? Like the banks? #Confusion
Is Bankman Jewish?
The investors themselves are too blame for their own misery , if someone tries to sell you hey i want you to buy a car that does not exist would you buy it?? If you want to invest money or something go trade hard currency like gold, silver or stock market. To say that oh i am better off throwing my money on things that does not exist? Go ahead do it you would be just like this fools on this video…
Now Binance's CEO was found guilty of wire fraud and may be going to jail!!😮🤦🏼🤷🏼
Its kinda evil plan by binance to kill competition
Worlds biggest exit scam along with Do Kwon's
Very good
What's really frightening was the way sbf justified taking out personal loans against ftx and Alameda, donated to politicians campaigns, created fake assets to appear solvent and took from client accounts to cover losses. Just in the way he casually spoke and texted about his criminal actions, really sounded like all the dirty tricks of the trade, he unwittingly picked up naturally, by growing up with his professor finance lawyer parents. For decades, his parents probably were speaking over breakfast, lunch, dinners and on vacations, about company x doing this and cfo x doing that, what this ceo did and what he should have done instead, all the while sbf was just soaking up all this information, not realizing that knowledge turned their son into the sbf the world knows today.
I’ll be grateful when this “explained” trend goes to sleep for all time.
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What do they even do to make money?
What a CON scheme
Discombobulated video that tells you nothing!