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I may be missing something but looks a bit like binance were involved in starting the run before then buying them out
https://twitter.com/cz_binance/status/1589283421704290306
Pretty shocking news from FTX.com. I suspect we will never know the full story or what their financial picture looked like. Some institutional investors burned badly, no doubt.
https://twitter.com/SBF_FTX/status/1590012124864348160