Since his company imploded, Mr. Bankman-Fried has repeatedly denied accusations that he tried to manipulate cryptocurrency markets. In a text message, he compared his company’s efforts to bolster the price of FTT — by publicly announcing that it would buy large quantities — to share buyback schemes at public companies. And he said his firm’s trading of FTT was designed to keep the market running smoothly by buying coins when people wanted to sell and selling when they wanted to buy.What to Know About the Collapse of FTXCard 1 of 5What is FTX? FTX is a now bankrupt company that was one of the world’s largest cryptocurrency exchanges. It enabled customers to trade digital currencies for other digital currencies or traditional money; it also h …
