How did Binance sink FTX?

Could you please elaborate on the sequence of events that led to Binance's involvement in the collapse of FTX? Was it a direct result of Binance's actions, or were there underlying factors that played a part? What specific role did Binance play in this collapse, and what strategies or decisions did they make that contributed to FTX's downfall? Was there any form of malfeasance or unethical behavior involved, or was it simply a matter of poor management and financial decisions? Given your expertise in this field, could you offer some insight into the possible longer-term consequences of this event for the cryptocurrency industry and the financial markets at large?