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Bankless
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FTX's Turbulent Ascent and Fallout
This chapter explores the rise and fall of the cryptocurrency exchange FTX, detailing its connection to a prominent trading fund and the alarming financial mismanagement that ensued. It highlights the impacts of liquidity crises, public breakdowns in communication, and the aftermath of a bank run that jeopardized user trust. The discussion also sheds light on the contentious relationships within the crypto community and their implications for investors.
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