FTX goes under, have been valued at $32 Billion recently

As the FTX case unfolds there is an expectation that over $1 Billion of client funds are unaccounted for and the likelihood that FTX misused customer funds for trading by its sister company Alameda. The collapse of FTX and other exchanges this past year shakes the confidence of investors in crypto currencies and questions the value of these instruments, but what it likely won’t do is deter the underlying development of blockchain technology and its applications to the finance industry.

Sam Bankman-Fried has reportedly personally loss over $15 Billion from the downfall of FTX, a company he founded in 2019.

CNBC Article
Sam Bankman-Fried steps down as FTX CEO as his crypto exchange files for bankruptcy by MacKenzie Sigalos

Coindesk Article
The Epic Collapse of Sam Bankman-Fried's FTX Exchange: A Crypto Markets Timeline by Sage D. Young, Bradley Keoun