The legal and financial fallout from the collapse of FTX, the once-prominent crypto exchange, continues to unfold as bankruptcy proceedings enter a critical phase.
Creditors, including institutional investors and retail users, are seeking to recover billions in lost assets.
FTX’s former CEO, Sam Bankman-Fried, faces multiple charges related to fraud and mismanagement of customer funds, with court proceedings ongoing.
The case has prompted widespread calls for more robust crypto regulations, particularly in areas such as exchange oversight and consumer protection.
The FTX collapse has also raised concerns about the long-term stability of centralized exchanges, leading many in the crypto community to advocate for a shift toward decentralized finance (DeFi) solutions, where users have greater control over their assets.
