FTX Collapse: Binance, the largest crypto exchange, is under investigation

The FTX debacle is echoing through the crypto industry and finance in general.

The collapse of this crypto exchange, which was valued at $32 billion in February, shocked everyone.

FTX filed for Chapter 11 bankruptcy on Nov. 11 because it ran out of money to meet the demands of its panicked customers. And that has prompted regulators to open investigations into the crypto empire of Sam Bankman-Fried, the founder of FTX.

In addition, regulators are increasing their oversight of the crypto space, where transparency is almost non-existent.

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