Is FTX a scam?
Bahamas-based crypto exchange that grew to a $32B valuation before collapsing in November 2022. Bankruptcy revealed that customer funds were commingled with sister hedge fund Alameda Research and used to cover losses, real-estate purchases, and political donations.
| Status | prosecuted |
|---|---|
| Category | exchange-collapse |
| First observed | 2019-05-01 |
| Collapsed | 2022-11-11 |
| Reported victims | 1,000,000 |
| Estimated losses | $8,000,000,000 |
Also known as
Sam Bankman-Fried, SBF, Alameda Research, FTX.com, FTX US