In November 2022, the world’s third-biggest crypto exchange collapsed in nine days. Sam Bankman-Fried built FTX into a thirty-two billion dollar empire â” but behind it, eight billion dollars of customer money was secretly funneled into his trading firm Alameda Research and spent on bad bets, luxury real estate, and political donations. When the hole was exposed, customers rushed to withdraw, Binance walked away from a rescue, and FTX filed for bankruptcy. Convicted on seven counts of fraud, Bankman-Fried was sentenced to twenty-five years in prison. Subscribe to Fortune & Fraud for the wildest true money stories ever told â” scams, fortunes, and collapses, explained in under a minute. #shorts #crypto #scam #ftx #sambankmanfried Note: This video is AI-generated (narration, visuals) fo
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