In 2019, the FTX cryptocurrency exchange was founded, attracting big-name investors like Singapore's Temasek.

The collapse of FTX was partially due to its close relationship with Alameda Research, a crypto hedge fund founded by Bankman-Fried. Concerns arose when it was revealed that a significant portion of Alameda Research's assets consisted of FTT, a token created by FTX, leading to fears about capital reserves.

Changpeng Zhao, CEO of Binance, announced selling all of the company's holdings in FTT, triggering a wider selloff and immense pressure on FTX to meet customer withdrawals, eventually leading to a halt on withdrawals due to lack of funds.

FTX reached a deal to sell itself to Binance, but Binance later withdrew from the acquisition due to corporate due diligence and news reports about mishandled customer funds, leading to further financial instability at FTX.

FTX, FTX US, Alameda Research, and over 100 affiliates filed for bankruptcy in Delaware, with debts reaching $8 billion. This led to the suspension of operations by affiliated crypto lender BlockFi and a change in FTX's CEO.

The Securities Commission of The Bahamas seized cryptocurrency assets held by FTX to protect creditors from potential cyberattacks.

FTX Trading Ltd. and others were involved in a bankruptcy case in the U.S. Bankruptcy Court for the District of Delaware.

The FTX cryptocurrency exchange, valued at $32 billion in February 2022, collapsed within days, leading to one of the biggest financial fiascos of the decade. The founder, Sam Bankman-Fried, faced prosecution starting on Oct 3, 2023, following the implosion of the firm.

Bankman-Fried was arrested in the Bahamas after federal prosecutors filed criminal charges against him, following FTX's bankruptcy filing. The charges include defrauding investors, highlighting the risks associated with unregistered crypto trading platforms.

The U.S. Securities and Exchange Commission charged Bankman-Fried with defrauding investors, emphasizing the risks posed by unregistered crypto asset trading platforms. The collapse of FTX serves as a cautionary tale for investors and customers.

SBF, the CEO of FTX, is arrested in the Bahamas after the US files fraud charges against him and seeks his extradition. He is denied bail and sent to Fox Hill prison.

Carolyn Ellison and FTX co-founder Gary Wang plead guilty to charges including wire fraud, securities fraud, and commodities fraud. SBF maintains his innocence.

SBF is released from a Manhattan courthouse to the custody of his parents on $250 million bail.

Bankman-Fried returns to court in New York to plead not guilty.

An unsealed indictment reveals that SBF is facing additional charges, including bank fraud and operating an unlicensed money transmitter. He now faces up to 12 counts of various charges.