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FTX CEO John Ray's revelations at the collapse hearing shocked the crypto world. He slammed Bankman-Fried, stating that the company's failure was inevitable. Ray emphasized that Chapter 11 bankruptcy was the best option to protect stakeholders. His candid testimony provides crucial insights into the downfall of FTX.

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Risk warning: Digital asset trading is an emerging industry with bright prospects, but it also comes with huge risks as it is a new market. The risk is especially high in leveraged trading since leverage magnifies profits and amplifies risks at the same time. Please make sure you have a thorough understanding of the industry, the leveraged trading models, and the rules of trading before opening a position. Additionally, we strongly recommend that you identify your risk tolerance and only accept the risks you are willing to take. All trading involves risks, so you must be cautious when entering the market.

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