Everything you need to know about the FTX crash | Tech It Easy Ep-29

Episode Description

On November 11, 2022, FTX declared bankruptcy following a spike in customer withdrawals earlier in the month. Sam Bankman-Fried, the company's CEO, acknowledged that there weren't enough assets on hand to meet demand from customers. Investors withdrew from riskier investments when interest rates rose. And then we saw FTX crashing hard. As a result the global crypto market cap, which was dwelling at around $1.05 trillion before this fiasco took place, is now standing at around $800 billion as of November 25. To find out why and how the FTX crash took place and how it took the whole crypto industry with it, tune into today's episode of Tech It Easy with Niharika Nanda. Only on ABP Live Podcasts.