FTX Collapse: Ellison's $22 Offer Sparks Questions About Industry Integrity

The collapse of FTX has sent shockwaves through the cryptocurrency world, leaving many to wonder how such a major player could fall so quickly.

One pivotal moment in the saga was Caroline Ellison's public offer to buy Binance's FTT holdings at $22 per token. This move, while seemingly strategic, ultimately revealed her hand and allowed professional traders to short FTT, causing its value to plummet.

Within 72 hours of Ellison's offer, $6 billion had exited FTX, leading to its collapse. The incident raises questions about industry collaboration, regulatory scrutiny, and exchange integrity.