Chapter
Allegations of Deceptive Behavior from FTX, Raises Concerns
01:08 - 08:08 (06:59)
The FTX exchange has lost billions of dollars worth of customer money and is now facing allegations of engaging in extremely deceptive behavior. Investigations and charges are expected due to these concerns about the exchange's financials.
Clips
FTX has been accused of engaging in deceptive behavior and has lost billions of dollars of customer money, leading to investigations and potential charges.
01:08 - 02:41 (01:32)
Summary
FTX has been accused of engaging in deceptive behavior and has lost billions of dollars of customer money, leading to investigations and potential charges. Binance's decision to back out of acquiring FTX also raised questions about the firm's operations.
ChapterAllegations of Deceptive Behavior from FTX, Raises Concerns
EpisodeA Hard Fork in the Road: FTX’s Unraveling and Elon’s Loyalty Oath
PodcastHard Fork
The FTX shortfall crisis had been caused by a massive run on FTX where there wasn't enough money to pay out customers trying to withdraw all at once.
02:41 - 03:40 (00:59)
Summary
The FTX shortfall crisis had been caused by a massive run on FTX where there wasn't enough money to pay out customers trying to withdraw all at once. A liquidity crisis was faced by FTX where there wasn't enough stuff available for them to sell, and pay back their customers.
ChapterAllegations of Deceptive Behavior from FTX, Raises Concerns
EpisodeA Hard Fork in the Road: FTX’s Unraveling and Elon’s Loyalty Oath
PodcastHard Fork
FTX had lent missing customer funds to Alameda Research, the hedge fund affiliated with FTX, which was used to support their bets with imaginary internet money.
03:40 - 08:08 (04:27)
Summary
FTX had lent missing customer funds to Alameda Research, the hedge fund affiliated with FTX, which was used to support their bets with imaginary internet money. It is unclear when and why FTX began using customer money to fund Alameda's trading, and how much of that money will be recovered in the bankruptcy process.