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FTX was a major cryptocurrency exchange that went bankrupt after a leaked report revealed that FTX CEO Sam begman Freedamp;#39;s other company a crypto hedge fund called Alameda research owned tons of the ftt coins that FTX had created this Revelation May declare to people that the two companies finances and balance sheets were too closely entangled and this caused a run on the bank situation as FTX investors quickly began to withdraw their crypto from The Exchange as the run on the bank continued to get worse FTX froze withdrawals and it was revealed that FTX no longer had the ability to return all customer deposits it then became clear that Sam bankman freed had been secretly co-mingling funds and using FTX customer deposits to make crypto trades through his hedge fund Alameda research for more details on the full story and explanation of the fraud watch my full documentary Linked In the description