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ummary: FTX, a cryptocurrency exchange platform, experienced a dramatic 80% drop in value within 72 hours, leading to a loss of over $150 billion in market value for the top 15 cryptocurrencies. Founded by Sam Bankman-Fried, FTX was once viewed as a key player in the struggling market but has now faced a significant setback. Bankman-Fried, also known as SBF, previously received praise for his work in the crypto industry and is the majority owner of FTX and Alameda Research, a quantitative trading firm.
