EXPLAINER: What's happening at bankrupt crypto exchange FTX?

EXPLAINER: What's happening at bankrupt crypto exchange FTX?

a year ago
Anonymous $_PGtSJbg8h

https://apnews.com/e6ea8dca1140ac41ac6bbbba0af5887b

The imploding cryptocurrency trading firm FTX is now short billions of dollars after experiencing the crypto equivalent of a bank run.

The exchange, formerly one of the world's largest, sought bankruptcy protection last week, and its CEO and founder resigned. Hours later, the trading firm said there had been “unauthorized access” and that funds had disappeared. Analysts say hundreds of millions of dollars may have vanished.

EXPLAINER: What's happening at bankrupt crypto exchange FTX?

Nov 13, 2022, 10:17pm UTC
https://apnews.com/e6ea8dca1140ac41ac6bbbba0af5887b > The imploding cryptocurrency trading firm FTX is now short billions of dollars after experiencing the crypto equivalent of a bank run. > The exchange, formerly one of the world's largest, sought bankruptcy protection last week, and its CEO and founder resigned. Hours later, the trading firm said there had been “unauthorized access” and that funds had disappeared. Analysts say hundreds of millions of dollars may have vanished.