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Erik Voorhees and Cobie on Why FTX Loaned Out Customers’ Assets - Ep. 419
Unchained
FTX's Downfall: Unraveling the Financial Chaos
This chapter explores the rapid bank run at FTX that triggered a $5 billion withdrawal demand and exposed an $8 billion deficit in their balance sheet. It examines the troubling relationship between FTX and Alameda, highlighting the risks of commingling funds and unethical practices in managing customer assets. The conversation reflects on the implications of these actions for the cryptocurrency ecosystem and the potential fallout from FTX's mismanagement.
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