Too Long; Didn't Read
FTX, a crypto derivative exchange facilitator, is an exchange that provides leverage to allow people to get more exposure in the markets using fewer deposits. The market participants on the other side of your trade who buy and sell the majority of these positions are “market makers” In FTX’s case, its market maker was a company called Alameda Research. FTX decided to lend, borrow or provide a margin to Alameda to hold client positions, despite rumours suggesting Alameda had preferential services like no stop outs and better conditions.