📉 FTX crypto exchange filed for bankruptcy, a lawsuit was filed against its former management. Its founder, Sam Bankman-Fried, faces 110 years in prison. 😱

- His trial will start on October 3 and last until November 9.

- Companies in which FTX and Alameda Research invested suffered great losses.

- FTX owes $8.7 billion to its customers, the new management is working to repay the money.