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RUIN: Money, Ego and Deception at FTXLeading cryptocurrency exchange FTX was once valued at $32 billion, but it collapsed in a matter of days in November Find out how it fell apart. FTX was one in a series of industry meltdowns that sent bitcoin crashing to its lowest price since While the sector remains far from. The downturn has fueled debate about whether crypto is the future of investing, or whether it preys on the vulnerable.