Quick Rundown on the Fall of FTX aka Manipulation War on Twitter between 2 Crypto Kingpins

Hi! It’s Alexander from Limitless Insights, here today with a recount of events regarding the Fall of FTX. What I initially played off as the Crypto Bigwigs fighting between CZ (Binance CEO) & Sam Bankman-Fried (SBF) of FTX, has escalated into the bankruptcy, loss contagion and spiraling consequences we see in the current crypto climate.

I finally woke up from the stupor of getting rugged by the #2 Biggest Centralized Exchange (CEX) at the time, but I’ll go into the details of my losses in part two since this is already long enough.

For now, let me begin with some TLDR for those who are new to crypto or have been out of the loop.

TLDR

Back in 2017, CZ founded Binance, quickly growing it to become the largest centralized crypto exchange in the world. Since it’s launch, many exchanges (Coinbase, BitMEX, Gemini, etc.) have unsuccessfully tried to take its crown.

In May 2019, a new player entered the space when Sam Bankman-Fried founded FTX.