If you’ve seen a bit in the news about cryptocurrency and wondered what’s going on, here it is… About $1.5 billion has been wiped from a major exchange called FTX in “suspicious circumstances”, leaving the platform’s one million users unable to withdraw their funds. On Friday, the trading platform filed for bankruptcy and its founder Sam Bankman-Fried stepped down. He’s said to have fled to South America after failing to find nearly $9 billion to keep it afloat after a takeover deal fell through last week. FTX was to be sold to its biggest rival, a company called Binance, but it pulled out saying the issues facing FTX were “beyond” its “ability to help”. It’s a significant fall from grace for FTX, which was valued at nearly $48 billion in January, and has wiped $16 billion from Bankman-Fried’s personal wealth. Financy types say it could also spark a major shakeup, forcing regulators to intervene.