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The FTX collapse, a shocking event in the cryptocurrency world, is explored in depth. Co-founder Gary Wang testifies in the fraud trial against Sam Bankman-Fried, revealing the scale of the fraud committed. This article unpacks the events leading to the collapse, offering a comprehensive understanding of what went wrong.

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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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