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hey everyone this is motherboard editor-in-chief Jason Kepler Im here with Edward angueso Jr and Emily lipstein and were here to talk about FTX which has just imploded it is one of the largest crypto disasters of all time they owe more than a million people money Edward what is FTX so FTX is a cryptocurrency exchange its the second largest one its a place where you can go and take your dollars and exchange them for any cryptocurrency that you want but also for you know more complex trades or financial instruments that are connected to cryptocurrency and so you know customers have put you know billions of dollars there I think over 13 billion in last week realized that they werent able to take any of the money out FTX said that you know this was fine they were just going through a little bit of a bump and by the next day were filing bankruptcy claiming that they didnt have enough money to offer everyone withdrawals from The Exchange right and so they have this uh sort of really w