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How Crypto Exchanges Have Been Affected After the FTX Fallout

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The dramatic collapse of American entrepreneur and once high-flier Samuel Bankman-Fried’s (SBF) $32-billion crypto empire in November could soon become part of economic studies as one of the biggest financial debacles of centralised exchanges. There could maybe, even, be mini-television series and movies that follow.

The Bahamas-headquartered FTX was one of the world’s largest crypto exchanges, having raised $1.5 billion through private funding in 2021. Its 30-year-old founder, with his distinctive casual clothes and unkempt hair, had seen his fortune crash from $16 billion to near zero within days, Bloomberg notes.

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