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A Crypto Catastrophe: The Stunning Fall of FTX—and What Comes Next
Plain English with Derek Thompson
FTX Bankruptcy - Where's the Money?
Derg: FTX's balance sheet is composed of tokens that it invented that are potentially nearly worthless. Customers freak out and there's a run in the bank, says Derg. After this bank run reveals an $8 billion to maybe $16 billion hole in FTX's Balance Sheet, SPF scrambles to raise funds or otherwise collapse. "Where's the money, essentially? Where's the money?" asks Derg.
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