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The FTX Collapse Explained in 99 SecondsThe market gives creditors with money locked up in court proceedings the chance to cash out immediately rather than wait years for a payment. FTX was one of the largest digital currency exchange platforms for buying and selling cryptocurrencies. As more people invested in cryptocurrencies, they turned. Leading cryptocurrency exchange FTX was once valued at $32 billion, but it collapsed in a matter of days in November Find out how it fell apart.