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Updated on June 27, 2022 1:18 am

Crypto Is Out of Control. FTX Is Just the Beginning




As investigators and authorities continue to sort through the fallout of the collapse of cryptocurrency exchange FTX, the contours of the implosion are becoming clearer. It will likely take many more months to disentangle the web of corporate greed and financial malfeasance at the heart of FTX’s bankruptcy. But we can safely say that the company owes billions of dollars to creditors and, according to sources, at least $1 billion to clients, in what appears to be the greatest crypto collapse to date.

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