What FTX’s collapse means for crypto
Behind the Money
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FTX Files Bankruptcy - What's Going On?
FTX filed for bankruptcy last week. A leak of Alameda Research's balance sheet to CoinDesk caused the collapse. The company was issuing a crypto token called FTT that they controlled. It does not represent equity in FTX, but it was this kind of token that they controlled and could issue as much as they wanted.
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