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lot of you wanted a breakdown of the FTX drama and Iamp;#39;m Vivian your Rich BFF and your favorite Wall Street girly and Iamp;#39;m gonna deliver tldr crypto CEO Sam bangman Freedamp;#39;s company FTX imploded hereamp;#39;s why the bad news started when coindesk released a report that basically was like uh spfamp;#39;s crypto trading firm Alameda research and his trading platform FTX may be more intermingled than they should be sus a few days later the CEO of binance FTX number one competitor decides to sell 530 million dollars worth of ftt a coin FTX invented and when users saw this they panicked and also sold about 6 billion in withdrawals happened over 72 hours which FTX couldnamp;#39;t fulfill but all seemed okay when FTX announced that binance was going to buy them effectively bailing them out but after a little research binance said FTX is a lemon and for that reason weamp;#39;re out no bailout meant FTX had to file for bankruptcy and SPF resigned as CEO and lost 94 of h