FTX is fine. Assets are fine.

Sam Bankman-Fried is the disgraced former CEO of FTX, a crypto trading platform that went bankrupt in November 2022, when billions of customers funds were unaccounted for.

Known by his initials SBF, he had also founded Alameda Research, a crypto-scalping and research company, trading millions of dollars worth of crypto daily.

Investigations into SBF, FTX and Alameda highlighted the grave malpractices in accounting, security and legal compliance committed in their downfall, as well 'improper' drug use by SBF and employees.

During bankruptcy proceedings for FTX, the new CEO said he'd never "seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information".

SBF also came under heavy scrutiny for his political donations in the US and was arrested in December 2022 and charged with 8 criminal charges.
In February 2023 this increased to 12, including fraud.