Founded by Sam Bankman-Fried, one of the most prominent personalities in the cryptocurrency world, FTX filed for bankruptcy protection in the US last week. And this is after it failed to meet a torrent of withdrawals, delivering another shock to the virtual asset sector after similar woes befell other big names, including crypto hedge fund Three Arrows Capital, Celsius Network and Babel Finance.
Song Seng Wun, Economist, CIMB Private Banking shares more.