Here is a link to an explanation @silversaver888
https://www.investopedia.com/what-went-wrong-with-ftx-6828447

Here is a quote from the beginning of this article.......

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Investopedia
investopedia.com
› what-went-wrong-with-ftx-6828447
The Collapse of FTX: What Went Wrong With the Crypto Exchange?
Bankman-Fried was convicted and sentenced to 25 years in prison for stealing $8 billion from customers. FTX was a leading cryptocurrency exchange that went bankrupt in November 2022 amid allegations that its owners had embezzled and misused customer funds.
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