What Really Caused the FTX Collapse? - Here is the Truth
Duke Mtambo talks with Jakub Simek and they dicuss about the FTX collapse. FTX collapsed because of deeper collision issues between FTX (Sam Bankman-Fried) and Alameda (Caroline Ellison). The FTX exchange didn’t have its own bank account to accept wire transfers, so customers would send money to Alameda unknowingly, and FTX would credit their accounts.
But the actual money was never passed on: three years later, Alameda had kept hold of, traded with, and frequently lost, $8bn of FTX customer funds.
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