The collapse of crypto

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The cryptocurrency crash (also known as the Bitcoin crash and the Great crypto crash) was the sell-off of most cryptocurrencies starting in January FTX was forced into bankruptcy after users learned some of their funds were misused and rushed to pull crypto from the exchange's digital vault. In the case of the collapse of crypto exchange FTX in , the impact to the market was enormous. The FTX crash didn't just affect FTX, but.

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Archived from the original on 23 October Share Copied. One lender , Genesis, and its parent company, Digital Currency Group , were sued by the Winklevoss-founded crypto exchange Gemini for defaulting on lending agreements with Gemini's Earn product. Throughout the trial, executives, customers, and investors testified that Bankman-Fried directed employees or acted in his personal capacity to spend customer deposits for non-business purposes and to make material misstatements about FTX's solvency and relationship with Alameda Research. Retrieved 3 March