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Fortune

Sheryl Estrada

How to raise $2 billion with a sloppy Excel spreadsheet

FTX Andrew Murphy Luisa Beltran Sam Bankman-Fried

(Credit: Ting Shen—Bloomberg/Getty Images)

Good morning,

Just when you thought the story of the downfall of crypto exchange FTX couldn’t get any worse, there are yet more jarring details and it involves every CFOs worst nightmare: messy Excel spreadsheets.

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