https://www.theguardian.com/technology/2022/nov/18/how-did-crypto-firm-ftx-collapse

How did Sam Bankman-Fried’s FTX fail and what does the firm’s fate tell us about cryptocurrencies?

The collapse of FTX, one of the world’s largest cryptocurrency exchanges, has unleashed another bout of volatility in the highly speculative digital asset market. The fortune of FTX’s founder, Sam Bankman-Fried, went from nearly $16bn to zero within days as his crypto empire filed for bankruptcy protection in the US on 11 November. Here we answer some of your questions about the story so far.