FTX sold crypto-coins based on valuing those coins in terms of other crypto-coins—when investors lost faith in crypto-coins and tried to withdraw their money in fiat currencies, e.g., real US dollars, the FTX could not repay them and went bankrupt.


 Ben Derico   & James Clayton, writing for BBC, notes the following:

Worth noting the following: CNBC Feb 2020 Warren Buffett: Cryptocurrency 'has no value' (



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