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for several days now cryptocurrencies have been in a free fall out of fear that the second largest crypto exchange FTX may go bankrupt Sam bankman freed the companys founder and CEO is desperately trying to find a Lifeline for his collapsing exchange he blames himself for the crash admitting he effed up and should have done better in a tweet yesterday Vlad gutier is here to show us whats going on inside the often confusing world of cryptocurrency Vlad whats up man good morning Nate good to see my brother so let me explain things really took a turn for FTX after a deal to sell the exchange to its top rival went South now bankman freed also faces his own personal financial troubles as the CEO who was once valued at 26 billion dollars has lost nearly all of his wealth in just a matter of days like I was saying its FTX its a safe and easy way to get into crypto so FTX is Super Bowl ad poon some of Mankinds greatest inventions I call it the wheel one of the worst ideas Ive ever heard