FTX, the world’s second-largest crypto trade, run by self-styled “efficient altruist” Sam Bankman-Fried, collapsed final week. The trade noticed a run on its digital belongings precipitated by aggressive short-selling of an FTX-owned blockchain token known as FTT, by a enterprise rival. This led to a liquidity disaster, adopted virtually instantly by insolvency. Bankman-Fried issued a number of public apologies for the mismanagement that led as much as the short disintegration. For India, the heady mixture of expertise and finance that crypto markets characterize could seem daunting, however they’re vital to grasp and govern all the identical.