Crypto has been rocked over the last few days by the biggest disaster ever to hit the industry. While it has experienced its fair share of crises over its short history, the collapse of FTX and Alameda Research is the gravest challenge crypto has faced thus far and the true extent of the damage may not become apparent for some time.

In today’s episode, Mike and Guy sit down to talk through what happened and what may come next. Many of the details are still unclear and new information is coming to light every day, so much of what’s discussed here will be focused on the background to this whole debacle.

You’ll hear about the origins of Alameda Research and FTX, as well as the story of the man who founded them both and is ultimately responsible for their collapse. You’ll also hear about how concerns about Alameda started to bubble up at the beginning of November and how both it and the world’s second-largest crypto exchange were essentially brought down by a single tweet.

We’ll update you with more information on this extraordinary, tragic story next week. New twists and turns occur daily, while rumour, speculation, vitriol and despair swirl around the crypto community. Make no mistake, this is crypto history unfolding before our eyes.

We hope you enjoy the show.

Executive Producer for iHeartMedia: Noel Brown

Editor: Sam Moult

Theme music composed by: Noel Brown

See omnystudio.com/listener for privacy information.

The FTX Disaster Part 1