FTX: The Domino Effect
Understand the different types of crypto exchanges as well as an overview of FTX
About the course
The cryptocurrency exchange FTX skyrocketed its value to a $32 billion company in 2022, but now has filed for bankruptcy. It only took 10 days for the second largest crypto-exchange to collapse. FTX’s failure came after Bankman-Fried desperately sought billions of dollars to save the exchange this week after it was unable to meet a torrent of customer withdrawals in a run prompted by concerns over its financial health and links to Alameda Research.
This has raised a lot of concerns in the industry around crypto exchanges. What were the main reasons behind that domino effect?
In this course, Huy Nguyen Trieu, Co-Founder of CFTE, will start by sharing more about crypto exchanges and the key crypto players. Then, he will unveil the main considerations behind the collapse of FTX and the implication of Alameda Research.
If you want to understand FTX and the mechanism behind its collapse, enrol to this course!
Difficulty: Foundation
Duration: 30mins
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With this online course, you will:
- Understand how crypto exchanges work
- Learn about FTX's history, structure and reasons behind its success
- Understand the domino effect behind FTX collapse
- Uncover the main considerations and implications behind FTX story
Skills
Crypto
Trading
Blockchain
Digital payments
Disruptive Tech
The expert you’ll be learning from
Huy Nguyen Trieu
Co-Founder of CFTE
Huy Nguyen Trieu is the Co-Founder of CFTE. He is also the CEO of The Disruptive Group, a business builder and advisory firm in innovation and finance, and Venture Partner at Mundi Ventures, an early-stage VC fund in Fintech and Insurtech. He believes that in a world led by technology, we shouldn’t forget the importance of people, which is why he co-founded CFTE to help people improve their skills and find opportunities. Prior to setting up CFTE, Huy was a Managing Director at Citi, and previously at Royal Bank of Scotland and Société Générale. Before banking, he was the CEO of Ukibi, a VC-funded startup in the US. He is a frequent keynote speaker in Europe and Asia, likes to teach and share with students and entrepreneurs, and is regularly quoted in articles on innovation and finance. He writes the blog Disruptive Finance, is an Entrepreneurship Expert at Oxford Said Entrepreneurship Centre and a Fintech Fellow at the Centre for Global Finance and Technology at Imperial College. He was also a member of ESMA’s Consultative Working Group for financial innovation and a founding member of the Asian SuperCharger, one of the largest Fintech accelerators in Asia. Huy is a graduate from MIT (US), École Polytechnique (France) and Ecole des Ponts et Chaussees (France).
Course Content
Welcome to our course on “FTX: The Domino Effect”. In this course, we will provide a deeper overview of the different types of crypto exchanges and discuss the economics, risks, and challenges involved in this industry. We will also provide an in-depth look at FTX, including its history, main milestones, funding rounds, and specificities as a crypto exchange.
In this chapter, we will define and classify different types of crypto exchanges, including exchange platforms, brokers, and broker dealers. We will also discuss the economics and risks involved in these platforms, as well as the different organisational structures and business models they adopt. Finally, we will provide an overview of the largest crypto exchanges by volume and categorise them into exchange, broker, or broker dealer.
Starting with a detailed history of FTX, including its founders and main milestones, following a discussion on the funding rounds and cash raised by the company and delve into its specificities as a crypto exchange, including its focus on derivatives, partnerships, and philanthropy.
In this chapter, we will explore the financial risks and challenges faced by crypto exchanges, including the importance of asset liability management and the segregation of funds. We will also discuss the risks and challenges specific to FTX, including regulatory issues and competition in the market.
In conclusion, this course has provided a comprehensive overview of the world of crypto exchanges and an in-depth look at FTX. This course will help you navigate the ever-evolving world of digital currencies whether you are a beginner or an experienced investor.
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