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The inside story of the collapse of FTX

November 11, 2022
Source: afr.com afr.com
News Snapshot:
But, like Lehman Brothers, the contagion looks like it has started. On Friday afternoon, crypto lender BlockFi, owned by FTX, halted withdrawals. “This is absolutely batshit insane,” one Brisbane-based investor told AFR Weekend, claiming to have lost $500,000 of crypto on the FTX exchange. “I’ve been trading on that goddamn platform for six months and no problem. Now my money has just gone?” A shocker of a year This year has been terrible for the crypto industry. Not because the decentralised technology has unravelled, or the cryptography underpinning bitcoin and other cryptocurrencies has been compromised, but because of human beings....
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