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FTX Post Mortem Part 1 Of 3: WTF Really Happened?

FTX Post Mortem Part 1 Of 3: WTF Really Happened?

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The dust hasn’t settled, but the smoke is beginning to clear, somewhat… Here’s WTF just happened, and what happens next…

On November 2nd Coindesk published a leaked balance sheet from FTX affiliated market maker Alameda Research.

Ten days later the third largest Crypto exchange in the world was bankrupt and its founder was under international investigation for fraud.

In this article I’ll go through how Crypto giant FTX fell apart. There is a lot of backstory to this situation which I’ll cover in a following article, discussing the beginnings of Alameda research and the story of how a sketchy hedge fund turned into a major exchange…

To read more visit Zero Hedge.

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