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The most obvious and inevitable financial meltdown in a while — the spectacular meltdown of apparently scam-plagued crypto exchange FTX — is getting wilder. FTX had almost ten times as many liabilities as cash. Executives at FTX knew the company had lent client funds to associated hedge fund Alameda Research to cover debt. Sam Bankman-Fried, founder of FTX and Alameda and future prison inmate, apparently installed a “back door” Withdraw money …
