The 2022 crypto industry bloodbath shattered everyone's perception of financial scams — the once valued at $32 billion FTX went from "industry golden child" to a global laughingstock.
The story's logic is actually simple: Post-90s founder SBF crafted a persona as the "Warren Buffett of the crypto world," spending heavily on advertising, paying celebrities for endorsements, and within just three years, pushing FTX to become a top-tier exchange. But behind the scenes, it's a classic "self-sustaining cycle" — issuing FTT tokens, using user funds to feed related company Alameda, and then using FTT
The story's logic is actually simple: Post-90s founder SBF crafted a persona as the "Warren Buffett of the crypto world," spending heavily on advertising, paying celebrities for endorsements, and within just three years, pushing FTX to become a top-tier exchange. But behind the scenes, it's a classic "self-sustaining cycle" — issuing FTT tokens, using user funds to feed related company Alameda, and then using FTT
FTT-3.33%