arrangement with the FTX crypto scam just days before the scandal erupted. The initiative claims to have raised $60 million for Ukraine, but where did the money go?
FTX’s destruction resulted from a mass sell-off
of the company’s native bitcoin token, FTT, by the rival exchange,
Binance. Its value plummeted, prompting a three-day run on billions of
dollars worth of cryptocurrency, which in turn created—or exposed—a “liquidity crisis” within FTX, as it did not have the available assets required to redeem client withdrawals. FTX filed for bankruptcy on November 11th.
FTX founder and top Democrat Party donor Sam Bankman-Fried now faces
criminal investigations in the Bahamas, where the exchange was
headquartered, and calls for official investigations into the largely unregulated cryptocurrency industry are reverberating across the globe." MRonline
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