FT
FTX
FTX · MOAT BREAKDOWN
Failure·8 min read·By Aditya Poddar
FTX Post-Mortem: When Governance Fails at Scale
The collapse of an $32 billion exchange and what it reveals about founder-led governance in crypto.
Coverage Desk
Failure
🦄
Valuation / Stage
Growth Round
(Verified)
$
Key Metric
8 min read
(Signal)
Source Verification
Venture Wire
Primary Citation
Writer & Reporting
Aditya Poddar
ADMIN
Core Strategy & Takeaways
- •The collapse of an $32 billion exchange and what it reveals about founder-led governance in crypto....
- •Verified through primary filings & investor term sheet disclosures.
- •Direct execution lesson for founders and growth operators.
Executive Brief (60 Words)
The collapse of an $32 billion exchange and what it reveals about founder-led governance in crypto.
Strategic Moat & Analysis
Sam Bankman-Fried used Alameda Research as a shadow liquidity provider, commingling customer funds with proprietary trading capital.
Source Verification & Takeaway
FTX filed for bankruptcy in November 2022. SBF was convicted on seven counts of fraud. $8 billion in customer funds remain unrecovered.
FULL EDITORIAL REPORT & WIRE DETAILS
Full case study body for FTX post-mortem.
EDITORIAL SOURCING & ATTRIBUTION
Reported by Aditya Poddar
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