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basically FTX was a crypto exchange a lot of people thought was one of the safest crypto exchanges led by Sam Baker Creed I thought to be a good guy in crypto especially by regulators and politicians TX was associated with a company called elevator research they were basically a venture capital arm sand bank and freed known as SBF in the industry he is basically he was over both of those FTX and Alameda while Alameda had a back door into FTX whenever it was trading on the downside was actually able to pull customer funds from FTX from their Bank of funds and and use them for their trading activities