How Crypto Giant FTX Suddenly Imploded

Once a leader in the world of cryptocurrency, Sam Bankman-Fried’s crypto exchange FTX is scrambling for funds. It’s now facing a shortfall of $8 billion after Binance walked away from a rescue attempt. WSJ’s Caitlin Ostroff on what this means for the crypto ecosystem.  Further Reading: -Tensions Between Crypto Giants FTX, Binance Spill Into Public View  -Binance’s Deal for Rival FTX Marks Power Shift Amid Crypto Turmoil  -The 30-Year-Old Spending $1 Billion to Save Crypto  Further Listening: -The Rise of Binance - And The Effort to Reel it In  -The ‘Death Spiral’ of a Stablecoin  Learn more about your ad choices. Visit megaphone.fm/adchoices