FTX filed for bankruptcy four years ago, after customers withdrew roughly $6 billion in the space of 72 hours. In the days before the filing, Binance walked away from a rescue deal for the exchange.
FTX also faced a reported funding shortfall of up to $8 billion. The withdrawals and failed rescue attempt preceded one of the crypto industry's most consequential exchange collapses.
Frequently asked questions
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How much did FTX customers withdraw before the bankruptcy filing?
Customers withdrew roughly $6 billion over 72 hours in the days before FTX filed for bankruptcy.
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What happened to the proposed Binance rescue of FTX?
Binance walked away from a rescue deal in the days before FTX filed for bankruptcy.
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How large was FTX's reported funding shortfall?
FTX faced a reported funding shortfall of up to $8 billion.
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How long did the customer withdrawal wave last?
The roughly $6 billion in customer withdrawals took place over 72 hours.
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Did the Binance rescue deal fall through before or after FTX filed?
Binance walked away from the rescue deal in the days before the bankruptcy filing.
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