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lot of you wanted a breakdown of the FTX drama and Im Vivian your Rich BFF and your favorite Wall Street girly and Im gonna deliver tldr crypto CEO Sam bangman Freeds company FTX imploded heres why the bad news started when coindesk released a report that basically was like uh spfs crypto trading firm Alameda research and his trading platform FTX may be more intermingled than they should be sus a few days later the CEO of binance FTX number one competitor decides to sell 530 million dollars worth of ftt a coin FTX invented and when users saw this they panicked and also sold about 6 billion in withdrawals happened over 72 hours which FTX couldnt fulfill but all seemed okay when FTX announced that binance was going to buy them effectively bailing them out but after a little research binance said FTX is a lemon and for that reason were out no bailout meant FTX had to file for bankruptcy and SPF resigned as CEO and lost 94 of his net worth ftxs investors looked like fools but the