Is FTX causing a tumultuous collapse in the crypto market?

The global cryptocurrency market remains badly scarred following the tumultuous collapse of crypto exchange FTX and other big players last year, with crypto prices, volumes and venture capital investment well below their 2021 peaks.

How did FTX fall?

Below is a timeline of the series of events that explains exactly how FTX fell so far and so fast. Nov. 2 – The collapse of FTX centers in part on the cryptocurrency exchange's close relationship with Alameda Research, a crypto hedge fund also founded by Bankman-Fried.

Will FTX go bankrupt?

Nov 17 (Reuters) - Crypto exchange FTX filed for Chapter 11 bankruptcy protection in the United States on Friday following its spectacular collapse that has sent shivers through the industry. The U.S. bankruptcy proceedings involve multiple FTX group companies with more than 100,000, and possibly over 1 million, creditors.

Why did FTX's price collapse 80% over the next two days?

The token's price collapsed 80% over the next two days and a torrent of outflows from the exchange gathered pace, blockchain data show. In his message to staff this week, Bankman-Fried said the firm saw a “giant withdrawal surge” as users rushed to withdraw $6 billion in crypto tokens from FTX in just 72 hours.