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5min chapter
Dante Disparte (Circle) - Ethical Crypto Innovation
Entrepreneurial Thought Leaders (ETL)
FTX - The Elephant in the Room
FTX was the fourth largest exchange to buy and sell crypto that was started just in 2019 by an MIT grad, who goes by the initials S. Sam Bankman freed SPF also started a quant trading platform called Alameda research which was making money by buying and selling crypto. And it came to light that he was actually lending money from the customers of FTX to Alameda research, which unfortunately was then not able to cover that liability. That led to this cascade of dominoes falling, ultimately having the whole all of FTX go file for bankruptcy and in 72 hours the crypto industry lost about $150 billion of value.
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