FTX
Bankrupt crypto platform
FTX was a cryptocurrency exchange founded in 2019 that collapsed spectacularly in 2022, becoming one of the largest financial frauds in history.
Its founder, Sam Bankman-Fried, was convicted of fraud and money laundering after billions in customer funds went missing.
The name now evokes crypto industry hubris and regulatory failure: The FTX collapse shook confidence in the entire crypto market.
Legal status when insolvent
- insolvencyInability to pay debts
- liquidationSelling assets for cash
- creditorsThose owed payment
- receivershipCourt-ordered asset management
contagion · meltdown · implosion · downfall · failure · debacle · fiasco · disaster
Alternative digital currency
- tokenRepresentative placeholder
- blockchainCryptographic linked transaction record
- walletSmall case for currency
- stablecoinPrice-anchored cryptocurrency
serum · derivatives · perpetuals · leverage
Formal charge from jury
- trialJudicial examination of claims
- convictionFirmly held belief
- prosecutionPursuing legal charges
- embezzlementFraudulent taking of entrusted assets
misappropriation · commingling · conspiracy · extradition · testimony · sentencing · charges · plea
Stock market regulator
- oversightSupervision or inadvertent omission
- complianceAdhering to requirements
- enforcementCompelling compliance with rules
- disclosureAct of revealing information
audit · investigation · subpoena · legislation · licensing · registration · transparency · accountability
bankruptcy
Legal status when insolvent
- insolvencyInability to pay debts
- liquidationSelling assets for cash
- creditorsThose owed payment
receivership · contagion · meltdown · implosion · downfall · failure · debacle · fiasco · disaster · ruin
altcoin
Alternative digital currency
- tokenRepresentative placeholder
- blockchainCryptographic linked transaction record
- walletSmall case for currency
stablecoin · serum · derivatives · perpetuals · leverage
indictment
Formal charge from jury
- trialJudicial examination of claims
- convictionFirmly held belief
- prosecutionPursuing legal charges
embezzlement · misappropriation · commingling · conspiracy · extradition · testimony · sentencing · charges · plea · verdict
SEC
Stock market regulator
- oversightSupervision or inadvertent omission
- complianceAdhering to requirements
- enforcementCompelling compliance with rules
disclosure · audit · investigation · subpoena · legislation · licensing · registration · transparency · accountability
FTXVanguard
Leading position or group
NYSE · Charles Schwab · Fidelity · honest broker · JPMorgan Chase
American multinational holding company
FTXPatagonia
South America's southern tip
Johnson & Johnson · Costco · USAA · success story · Berkshire Hathaway