Former CEO Sam Bankman-Fried was hailed as a savior of crypto before FTX’s implosion.
Cryptocurrency exchange FTX was seen as a survivor in a struggling industry, but over the course of six days the exchange collapsed due to a sudden liquidity crunch. WSJ explains the factors that drove FTX’s growth and what led to its downfall. Illustration: Alexandra Larkin
Some days the high-speed news cycle can bring more questions than answers. WSJ’s news explainers break down the day’s biggest stories into bite-size pieces to help you make sense of the news.
FTX’s Collapse: The Three Key Points on the Largest Crypto Bankruptcy Ever:
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