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The FTX exchange bankruptcy case was the most shocking "explosion" event in the cryptocurrency world in 2022, regarded as the "Lehman Moment" in the crypto space. It collapsed from its peak in just a few days, affecting numerous global investors and institutions.

FTX was founded in 2019 by the "crypto prodigy" Sam Bankman-Fried (abbreviated as SBF). To seize market share, the platform launched aggressive businesses such as high-leverage trading and diverse derivatives, and spent heavily to sponsor sports events and place Super Bowl ads, quickly rising to be among the top three cryptocurrency exchanges globally, with a valuation reaching $32 billion at the beginning of 2022. SBF also controlled the trading company Alameda Research, and these two related companies became the core vehicles for his subsequent operations.

On November 2, 2022, the cryptocurrency media CoinDesk exposed that Alameda's core assets were mostly FTT tokens issued by FTX, causing market panic with this "left hand to right hand" model. On November 6, Binance founder Changpeng Zhao announced the liquidation of his holdings in FTT, directly triggering a run by investors, with a single-day sell-off amounting to $5 billion. The next day, FTX's withdrawal system collapsed, and it was only at this point that SBF admitted to FTX's long-term misappropriation of user funds to support Alameda. Subsequently, Binance had planned to acquire FTX's non-U.S. business, but after reviewing the books and finding too many issues, they abandoned the acquisition, completely shattering market confidence.

On November 11, 2022, FTX, along with more than 130 affiliated companies, filed for bankruptcy protection, with a user fund shortfall of about $9 billion. The person in charge of handling the bankruptcy affairs found that FTX's internal finances were extremely chaotic, with customer funds mixed with company funds, allowing Alameda to freely misappropriate user deposits, and some funds were even used to purchase luxury homes, private jets, and political donations, with many transactions lacking audit trails.

SBF was quickly arrested in the Bahamas and extradited to the United States, where in 2023 he was found guilty of seven charges and sentenced to 25 years in prison in 2024, with a confiscation of $11.2 billion; his appeal in 2025 is likely to fail due to overwhelming evidence. The bankruptcy team subsequently recovered $14.5 to $16.5 billion in funds, and in the restructuring plan launched in 2024, small creditors could recover their principal plus a maximum interest of 9% (with an actual return rate of 118%), and by 2025, multiple rounds of fund disbursement had been completed. This incident caused the cryptocurrency market's market value to evaporate by over $200 billion and forced other exchanges in the industry to publicly disclose their asset reserves to prove their innocence.

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The MOS Coin is involved in a pyramid scheme fraud case exceeding 57 million yuan.

At the beginning of 2022, three individuals partnered to create the MOS Air Coin and went to Shandong to find people to develop the MOS Dapp. They then held a press conference to establish the pyramid scheme organization "Sea Star Community," dividing the organization into five major districts and sixteen vanguard groups, managed by core members, who held morning meetings every day to assign performance tasks to members.

They promoted the MOS Coin through online platforms and nationwide offline training sessions, falsely claiming it to be a decentralized financial project. They also set up a referral rebate system to entice investors to buy coins to become members and develop downlines, giving rebates to uplines based on the number of downlines and the amount paid, thus forming a multi-level pyramid scheme structure.

The project had no actual business operations and relied entirely on the investments of new downlines to sustain itself. In early 2023, Chen and others were arrested; at that time, the MOS Dapp had over 10,000 registered accounts, with the highest level reaching 17 tiers. After being apprehended, the three confessed truthfully and returned all illegal gains, ultimately being sentenced to three years in prison with a five-year probation for organizing and leading a pyramid scheme, and were also fined 350,000 yuan.

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#APRO is the first AI-enhanced oracle specifically designed to provide real-world data for blockchain, offering reliable high-throughput data feeds for the next generation of ecosystems (covering RWA, AI, prediction markets, and DeFi).

$AT has officially become the 59th project to participate in the Binance HODLer airdrop program.

Most on-chain applications require real-world information, but blockchains cannot read any information beyond their own networks.

So @APRO Oracle essentially acts as a bridge to pull data in a straightforward way without slowing down.

What I really like is how it handles data; sometimes it automatically pushes updates, and sometimes the applications simply request what they need.

No energy is wasted, and the AI layer makes it feel safer; it checks the data before it goes on-chain, which is very important because a wrong data source could ruin everything.

They also provide verifiable randomness, which is crucial for any situation where people want fairness and can actually verify it, such as games, lotteries, NFT minting, etc.

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