061 FTX Goes Bust

FTX, the 4th largest crypto exchange in the world, declares bankruptcy.<br/>We answer:<br/>Who is Sam Bankman-Fried?<br/>Why did the FTX token (FTT) crash?<br/>Was he sending FTX customer funds to his friends' investment group Alameda Research?<br/>Why do traditional banks receive government bailouts but not crypto banks?<br/>Will FTX's bankruptcy cause a chain of failures?<br/>And more<br/><br/>Latest information (released after recording):<br/>FTX halts withdraw of funds; however, residents of panama are legally allowed to withdraw funds.  So, users are sending hundreds of millions of dollars through FTX's NFT marketplace to Panama users in order to withdraw funds.<br/>-FTX HQ is in Panama<br/>-FTX and Alameda Research CEOs and executives room together in a large home in Panama.<br/>-Hundreds of millions of dollars were "hacked" from FTX after they declared bankruptcy