In this video I cover the Accounting & Audit issues with FTX’s Collapse
In a nutshell, FTX used its sister company Alameda in these illegal ways:
FTX lent Alameda its made-up crypto “FTT”, which Alameda used to borrow money against (free money with a worthless collateral)!
Alameda was a major customer of FTX’s FTT token, helping FTX prop up it’s fair market value!!
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