What was FTX trying to do?

What was FTX trying to achieve?" This question resonates in the minds of many investors and market observers following the collapse of the once-mighty crypto exchange. FTX, founded by Sam Bankman-Fried, had quickly risen to become a leading player in the volatile world of cryptocurrencies. With its innovative trading platform and ambitious expansion plans, it seemed poised to reshape the financial landscape. But what exactly were its ambitions? Was it simply a case of chasing profits in a rapidly growing market? Or was there a deeper, more idealistic goal at play? Was FTX aiming to democratize access to finance, making crypto more accessible to the masses? Or was it seeking to revolutionize the traditional financial system, leveraging blockchain technology to create a more transparent, efficient global market? The collapse of FTX has left these questions hanging in the air. Investigators and regulators are now scrambling to piece together the puzzle, trying to understand what went wrong and who bears responsibility. In the meantime, the crypto community is grappling with the implications of this seismic event, asking whether the failure of FTX represents a temporary setback or a more fundamental challenge to the entire industry.