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- [Narrator] Over $150 billion. In three days, that's how much the world's 15 largest cryptocurrencies lost in market value. It's because of the Crypto Exchange platform FTX, which is behind this token, named FTT. On November 6th, the token's value began to fall, losing more than 80% of its worth in the span of 72 hours. Once seen as a survivor in a struggling market, the fall of FTX has sent shockwaves through the cryptocurrency industry. So, what went wrong? FTX is the brainchild of Sam Bankman-Fried. He's commonly known as SBF on social media. He's been previously hailed as a savior of the crypto industry. - You were called the JP Morgan of crypto. - [Sam] Yep. - Does that bother you or not? - It doesn't bother me too much. - [Narrator] Bankman-Fried founded the quantitative trading firm Alameda Research in 2017. Two years later, he started FTX, an exchange platform for buying or selling cryptocurrencies. Right now, he's the majority owner of both firms. - That kinda aroused some s...
