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

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 cnn's brian todd has the details. >> reporter: it wasn't 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, has lost his fortune, his firm is in bankruptcy and by thursday in a twitter thread to investors and...

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-fried's net worth cratered in one day. the nba's 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 the health of its finances. those questions ignited a run on the bank crisis. >> clients suddenly ...

>> reporter: it wasn't 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 firm's in bankruptcy and by thursday in a twitter thread to investors and customers he was saying, quote, i'm sorry. i f'd 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 gisele bundchen and naomi osaka. his net worth cratered to under $1 billion in a single day. the nb...