The worst week in crypto history... so far.
Many Happy Returns
FTX Files for Chapter 11 Bankruptcy
Reuters reported that SPF had implemented some accounting rules which allowed a backdoor in their system. He could just at will move customer funds from FTX to Alameda without alerting any accounting controls or any of the accounting team at the company. I mean, it's just a bizarre company all around, isn't it? FTX eventually files for chapter 11 bankruptcy in the US.
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