FTX's Collapse: A Last-Minute Revelation of Financial Ruin

Aditya Baradwaj, a former software engineer at FTX's sister firm Alameda Research, revealed details about the moments leading up to FTX's collapse. Baradwaj and other employees realized something was wrong when their credit card was declined while trying to order takeout, signaling that the company was likely broke. Caroline Ellison, CEO of Alameda Research and Bankman-Fried's ex-lover, held a tearful all-hands meeting where she confessed that Alameda would wind down and blamed Bankman-Fried for misusing FTX user deposits. Baradwaj and his colleagues had to quickly leave Hong Kong and later resigned. Bankman-Fried is facing federal charges, but maintains his innocence.