How the FTX crypto exchange plunged into the billions

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Crypto exchange FTX filed for bankruptcy on Friday after losing billions. (archive image)

The rise of the FTX crypto exchange has been phenomenal. In less than three years, the company was valued at $32 billion and managed billions of dollars on behalf of its clients. A week ago, the FTX group collapsed like a house of cards and declared bankruptcy.

What is FTX?

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