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what is the truth behind the downfall of FTX the once dominant cryptocurrency exchange this unraveling tale began when a coindesk expose challenged the balance sheet of alam research a trading company owned by ftxs CEO Sam bankman fried this led to a liquidity crisis revealing an $8 billion shortfall in ftxs accounts The Fallout was Swift FTX filed for bankruptcy bankman fried found himself with a 25-year jail sentence and other key Executives pleaded guilty to related crimes the demise of FTX left a gaping $8 billion hole impacting millions of users ftxs recovery process has been riddled with controversy and legal disputes the bankruptcy law firms Sullivan and Cromwell tasked with handling ftxs recovery has come under Fire for alleged conflicts of interest sparking a planned class action lawsuit amidst these controversies a federal appeals court mandated the appointment of an independent examiner to review the collapse meanwhile FTX has been pursuing several Avenues to recover funds V
