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Το περιεχόμενο παρέχεται από το Mubarak Shah, CPA, Mubarak Shah, and CPA. Όλο το περιεχόμενο podcast, συμπεριλαμβανομένων των επεισοδίων, των γραφικών και των περιγραφών podcast, μεταφορτώνεται και παρέχεται απευθείας από τον Mubarak Shah, CPA, Mubarak Shah, and CPA ή τον συνεργάτη της πλατφόρμας podcast. Εάν πιστεύετε ότι κάποιος χρησιμοποιεί το έργο σας που προστατεύεται από πνευματικά δικαιώματα χωρίς την άδειά σας, μπορείτε να ακολουθήσετε τη διαδικασία που περιγράφεται εδώ https://el.player.fm/legal.
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How SBF Lost $30 Billion in 1 Week - The Fall of Sam Bankman-Fried and 130 Companies Bankrupting at Once

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Manage episode 346905460 series 3019347
Το περιεχόμενο παρέχεται από το Mubarak Shah, CPA, Mubarak Shah, and CPA. Όλο το περιεχόμενο podcast, συμπεριλαμβανομένων των επεισοδίων, των γραφικών και των περιγραφών podcast, μεταφορτώνεται και παρέχεται απευθείας από τον Mubarak Shah, CPA, Mubarak Shah, and CPA ή τον συνεργάτη της πλατφόρμας podcast. Εάν πιστεύετε ότι κάποιος χρησιμοποιεί το έργο σας που προστατεύεται από πνευματικά δικαιώματα χωρίς την άδειά σας, μπορείτε να ακολουθήσετε τη διαδικασία που περιγράφεται εδώ https://el.player.fm/legal.

How SBF Lost $30 Billion in 1 Week - The Fall of Sam Bankman Fried and 130 Companies Bankrupting at Once - Learn about how SBF (Sam Bankman-Fried) helped stand up the entire Crypto market and then collapse it in 1 full sweep - bankrupting 130+ companies at the same time.

In late 2019, Sam Bankman-Fried (SBF) was one of the most well-known and respected figures in the cryptocurrency industry. He was the CEO of FTX, a successful cryptocurrency derivatives exchange, and also ran Alameda Research, one of the largest and most successful crypto trading firms.

However, in 2022, SBF files for bankruptcy, and FTX is forced to shut down. So, what happened?

It all started with a dispute between FTX and another cryptocurrency exchange, Binance. FTX had been listing a number of “BinanceCoin Futures” contracts, which allowed users to bet on the price of BinanceCoin (BNB), the native token of the Binance exchange.

Binance objected to these contracts, and threatened to delist FTX from its platform if they did not stop offering them. FTX complied, but the damage was done. Binance had already begun to research FTX, and discovered that the exchange was using a number of questionable practices, including wash trading, spoofing, and market manipulation.

Binance delisted FTX, and the exchange’s reputation was irreparably damaged. FTX lost a lot of users, and their trading volume dropped dramatically. SBF was forced to sell Alameda Research to cover FTX’s losses, and in 2022, FTX was shut down and SBF declared bankruptcy.

It’s a cautionary tale of how quickly things can change in the cryptocurrency industry, and how even the most successful companies can fall victim to bad publicity and regulation.

Learn more about your ad choices. Visit megaphone.fm/adchoices

  continue reading

194 επεισόδια

Artwork
iconΜοίρασέ το
 
Manage episode 346905460 series 3019347
Το περιεχόμενο παρέχεται από το Mubarak Shah, CPA, Mubarak Shah, and CPA. Όλο το περιεχόμενο podcast, συμπεριλαμβανομένων των επεισοδίων, των γραφικών και των περιγραφών podcast, μεταφορτώνεται και παρέχεται απευθείας από τον Mubarak Shah, CPA, Mubarak Shah, and CPA ή τον συνεργάτη της πλατφόρμας podcast. Εάν πιστεύετε ότι κάποιος χρησιμοποιεί το έργο σας που προστατεύεται από πνευματικά δικαιώματα χωρίς την άδειά σας, μπορείτε να ακολουθήσετε τη διαδικασία που περιγράφεται εδώ https://el.player.fm/legal.

How SBF Lost $30 Billion in 1 Week - The Fall of Sam Bankman Fried and 130 Companies Bankrupting at Once - Learn about how SBF (Sam Bankman-Fried) helped stand up the entire Crypto market and then collapse it in 1 full sweep - bankrupting 130+ companies at the same time.

In late 2019, Sam Bankman-Fried (SBF) was one of the most well-known and respected figures in the cryptocurrency industry. He was the CEO of FTX, a successful cryptocurrency derivatives exchange, and also ran Alameda Research, one of the largest and most successful crypto trading firms.

However, in 2022, SBF files for bankruptcy, and FTX is forced to shut down. So, what happened?

It all started with a dispute between FTX and another cryptocurrency exchange, Binance. FTX had been listing a number of “BinanceCoin Futures” contracts, which allowed users to bet on the price of BinanceCoin (BNB), the native token of the Binance exchange.

Binance objected to these contracts, and threatened to delist FTX from its platform if they did not stop offering them. FTX complied, but the damage was done. Binance had already begun to research FTX, and discovered that the exchange was using a number of questionable practices, including wash trading, spoofing, and market manipulation.

Binance delisted FTX, and the exchange’s reputation was irreparably damaged. FTX lost a lot of users, and their trading volume dropped dramatically. SBF was forced to sell Alameda Research to cover FTX’s losses, and in 2022, FTX was shut down and SBF declared bankruptcy.

It’s a cautionary tale of how quickly things can change in the cryptocurrency industry, and how even the most successful companies can fall victim to bad publicity and regulation.

Learn more about your ad choices. Visit megaphone.fm/adchoices

  continue reading

194 επεισόδια

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