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The Guardian - UK
The Guardian - UK
Technology
Alex Hern and Dan Milmo

What do we know so far about collapse of crypto exchange FTX?

FTX Crypto Sam Bankman-Fried John Ray III United States Alameda Kris Marszalek Cryptocom FTT
FTX logo
FTX was made up of more than 100 companies united under the common ownership of Sam Bankman-Fried. Photograph: Dado Ruvić/Reuters

The collapse of FTX, one of the world’s largest cryptocurrency exchanges, has unleashed another bout of volatility in the highly speculative digital asset market. The fortune of FTX’s founder, Sam Bankman-Fried, went from nearly $16bn to zero within days as his crypto empire filed for bankruptcy protection in the US on 11 November. Here we answer some of your questions about the story so far.

How was FTX structured and what was its business model?

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