**FTX: A case of a brokerage + fund **

This is a relatively straightforward, go straight to jail kind of a story. And it's actually a lot simpler than in a funny way than the Celsius or the Terreluna blowouts because there they would see this kind of quite elaborate theory as to what was going on and is this a collapsing? You can sort of argue that it's Actually a collapse of confidence problem and you can argue whether or not it was a Ponzi scheme. This is very, very simple. The narrative that we have at the moment is you had a brokerage and a fund due to the money from the client finding money from the brokerage put it in the hedge fund and lost it. Do not pass, go