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Sam bankmanfried a well-known crypto investor had his net worth vaporized last week along with his companies which included FTX their ftt Alan made a hedge fund and their collaboration with Solana along with billions of dollars worth of client assets but before we get into the details of what happened and how I would like to welcome you guys back in another video on our YouTube channel where you will be always getting your daily dose of crypto news and entertainment it is also important to note that I am not a financial advisor and everything in this video is not Financial advice so without any further delay lets get into the details of what was FTX because it is necessary to understand how huge it was in order to assess its impact FTX was a renowned centralized cryptocurrency exchange that specialized in derivative and leveraged Goods sem bankman Freud or SBF an MIT graduate in former Jane Street Capital international dealer founded it in 2018. in terms of products FTX provided a va