FTX Basics
The founder of FTX
Who is Sam Bankman-Fried?
Main issue with SBF controlling both FTX and Alameda
This is where FTX customer deposits were secretly sent
What is Alameda Research?
This is what happened to FTX in November 2022
What is it filed for bankruptcy?
Hedge fund SBF founded before FTX?
What is Alameda Research?
Key governance structure that was missing across many FTX entities
What are independent boards?
This is the token that was used as collateral to borrow real assets
What is FTT?
Name one agency involved in investigating FTX.
What is DOJ or CFTC?
Strategy that helped SBF first make money in crypto markets
What is arbitrage?
This governance failure meant key decisions at FTX were made by a small inner circle
What is imaginary infrastructure?
This is why FTX couldn't meet withdrawal demands
What is customer funds were already used or lost?
Approximately how much money has been recovered or accounted for?
What is over 14 billion dollars?
FTX's approximate peak valuation during its rapid growth
What is about 32 billion dollars?
Instead of traditional corporate systems, FTX relied on these two tools for communication and accounting (no half credit)
What is Slack and QuickBooks?
The term John Ray used to describe what happened.
What is embezzlement?
This is what made many of FTX’s remaining assets difficult to recover or return to customers
What is they were tied up in illiquid investments like venture stakes, real estate, and tokens?