FTX Cryptocurrency Fraud

FTX’s implosion wiped $32 billion in value overnight after Sam Bankman-Fried misappropriated at least $8 billion in customer deposits to fund Alameda Research and political donations, making it the fastest collapse of a major exchange in history. Its ripple effects crashed the entire crypto market by $200 billion within days, cementing its status as the worst financial scandal since Enron.