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Jannis Bruhl and Benjamin Emonts
On the afternoon of November 11, Julius H. sees the devastating news on Twitter. FTX, the major cryptocurrency exchange, has filed for bankruptcy. Chaos erupts. H. can no longer open his account on the FTX website. 150,000 euros are gone for now. His phone rings every minute, the callers are angry. One accuses him of having stolen from him. Another wants his money immediately. Within minutes everything collapses on the young man. “I suddenly stood there like the absolute bogeyman,” he says. “I couldn’t sleep for three nights.”