FTX goes up in flames and impacts broader crypto industry, causing regulators to respond: Hodler’s Digest, Nov. 6-12

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FTX and Binances ongoing saga: Everything thats happened until now

An earthquake rattled the crypto space this week, its impact felt in numerous related stories regarding FTX, Alameda Research and Binance. Although the bad news came rolling in this week, suspicions relating to FTXs status appear to have started on Nov. 2. The concerns had to do with a large number of FTX Token (FTT) held by Alameda (Sam Bankman-Fried, aka SBF, founded Alameda and co-founded FTX). By Nov. 6, Binance had decided it would sell its sizable position in FTT. FTX withdrawal issues surfaced on Nov. 7, symptomatic of a bank run. Binance expressed interest in buying FTX but declined the purchase, citing concerns on Nov. 9.

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