Exploring the repercussions of the financial crisis at FTX and the turmoil faced by individual investors like Bagumshi Kanagundla, who had significant holdings with the platform. The chapter delves into the allure of FTX, investor involvement spurred by Larry David ads, and the abrupt chaos unleashed by news of FTX's looming bankruptcy, portraying the emotional and financial upheaval in the cryptocurrency landscape.
For the last year and a half, the story of FTX has focused largely on the crimes and punishment of Sam Bankman-Fried. But in the background, the actual customers he left behind have been caught in a financial feeding frenzy over the remains of the company.
On today's show, we do a deep dive into the anatomy of the FTX bankruptcy. We meet the vulture investors who make markets out of risky debt, and hear how customers fare in the secretive world of bankruptcy claims trading.
This episode was hosted by Alexi Horowitz-Ghazi and Amanda Aronczyk. It was produced by James Sneed and Sam Yellowhorse Kesler. It was edited by Jess Jiang, and fact-checked by Sierra Juarez. It was engineered by Cena Loffredo. Alex Goldmark is Planet Money's executive producer.
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