FTX's Bankman-Fried Says Collateral Crashed by $51 Billion

The transcript discusses the financial collapse of FTX, highlighting a significant drop in collateral value from $60 billion to $9 billion. A court hearing revealed that a substantial amount of FTX's assets are missing or stolen. SBF, the founder, apologized in a letter, expressing regret over the situation. The crisis has caused a contagion effect, impacting other crypto exchanges and markets, which have returned to 2020 levels.

What did SBF express in his letter to FTX staff regarding the situation?

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What was the amount of collateral that FTX reported it was left with after the crash?

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What was the liability amount mentioned in relation to FTX's assets?

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How did the contagion from FTX affect other crypto exchanges and companies?

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What was the state of the markets following the contagion spread?

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