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where in the infinite money diagram FTX would create the ftt which is their own cryptocurrency right they would then lend it over to Alameda right Alameda would then take the ftt which is a worthless asset by all account well take it and go take borrow money against it right free money and thats how they can repeat the cycle by take borrowing ftt from FTX and borrow money against it and getting free money this way hey guys welcome to yet another video with the financial controller this is Bill Hannah here a licensed CPA in a great state of New York and in this channel weve covered a few fraud cases in the past like Enron Worldcom wirecard luck and coffee Im going to leave a link to the playlist in the description below but in this video I wanted to cover FTX and its bankruptcy in November of 2022 right so what we do is Im gonna give you my unique perspective from a controller perspective or the accounting side of things on what happened in this case and Im going to see save the
