Peak Ftx News Today

Company which was headquartered in the bahamas is one of the largest crypto exchanges in the world. they saw a massive financial collapse this week that compelled the ceo to resign and drove it into bankruptcy and cnns brian todd has the details. >> reporter: it wasnt long ago that sam bankman-fried was called the mark zuckerberg of crypto, a modern day jpmorgan but in the span of a week the 30-year-old wonder kind founder and ceo of ftx the mega powerful cryptocurrency exchange has resigned, ha...

Ftx is the lehman brothers moment of the crypto world. it is a classic financial crisis. >> reporter: at its peak ftx was worth $32 billion. it had backers like nfl superstar quarterback tom brady, his soon-to-ex-wife gisele bundson. it has plummeted. bri bankman-frieds net worth cratered in one day. the nbas miami heat had its venue renamed as ftx arena last year, but now that name is coming off the building. the collapse of ftx was triggered last week when serious questions were raised about t...

>> reporter: it wasnt long ago sam bankman fried was called the mark zuckerberg of crypto, a modern day jpmorgan. in the span of a week the 30-year-old wonderkind founder of ftx has resigned, has lost his fortune, his firms in bankruptcy and by thursday in a twitter thread to investors and customers he was saying, quote, im sorry. i fd up. >> it is a classic financial crisis. >> reporter: at its peak ftx was worth $32 billion. it had backers like quarterback tom brady, his soon-to-be ex-wife gis...