Ftx S Fall News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Certainly real crash potential. >> reporter: ftx's fall has more than a hint of irony. larry david did an ad for ftx during this year's super bowl, portraying a buffoon who missed the boat on big inventions. >> i call it the wheel. >> i don't think so. >> what does it do? >> it rolls. >> not as a bagel. >> at the end of the spot, david is presented with an offer. >> ftx, safe and easy way to get into crypto. >> i don't think so. >> i'm never wrong about this stuff, never. >> reporter: now analysts are warning about the real future of the crypto currency market. >> i think that the private cryp...

Ran out of money. >> reporter: back in july when he did an interview with cnn business, sam bankman-fried discussed the danger of ponzi schemes in the crypto world. >> because i think when you have something which is basically an empty product, which i do think is true of some places some assets in crypto, you know, that is something where there's certainly real crash potential. >> reporter: ftx's fall has more than a hint of irony. comedian larry david did an ad for ftx during this year's super bowl. portraying a ba noon who missed the boat on big inventions. >> i call it the wheel. >> i don'...

Venue renamed as ftx arena just last year but now that name is coming off the building. the meteoric collapse of ftx was triggered last week when serious questions were raised about the health of its finances, those questions ignited a run on the bank like crisis. >> clients rushed to withdraw several billion dollars worth of cryptocurrency from the exchange that then put ftx in a position whereby he effectively, his company ran out of money. >> reporter: in july when he did an interview with cnn business, he discussed the danger of ponzi schemes in the crypto world. >> when you have basically...