Is FTX a 'Lehman Brothers moment' for crypto?

FTX, a crypto exchange, went from being worth $32 billion to filing for bankruptcy in what many are calling the “Lehman Brothers Moment” for crypto. Sam Bankman-Fried, the founder of FTX and Alameda Research, became a prominent figure in the crypto space while becoming one of the wealthiest people by the age of 30.

What happened to FTX & Alameda?

FTX, which now faces insolvency, is seeking nearly $10 billion in external funding a week after CoinDesk first reported how funds were spread between the exchange and Alameda. The report led to a cascade of events, with crypto markets tanking, Alameda winding down trading and FTX founder Sam Bankman-Fried losing most of his wealth.

What happened to crypto exchanges after FTX collapse?

Crypto exchanges, lending platforms and token issuers quickly became top priorities for the Securities and Exchange Commission, with a flurry of enforcement activity following the collapse of FTX.

Who owns Alameda research & FTX?

SBF cofounded Alameda Research, a crypto hedge fund named after his hometown, in late 2017. SBF then created his own crypto exchange, FTX, in 2019 based on the success of Alameda. The exchange grew fast with high-profile acquisitions, a hefty marketing budget, and promises of high returns.