Earlier this week the implosion of FTX, a cryptocurrency exchange, hit the front page of every major news platform. Led by former billionaire Samuel Bankman-Fried, also known as SBF, the exchange plummeted in value in a mere week as reports of disappearing client funds were released. SBF is also facing allegations that he transferred $10B in assets from FTX to his hedge fund, Alameda Research, without board approval. We discuss the details of this implosion as well as what it might mean for the broader crypto market.

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