全球第二大加密货币平台FTX交易公司（FTX.com）在11日通过官方社交媒体账号发布公告说，FTX交易公司、FTX美国、Alameda研究公司和其他大约130个附属公司已经按照《美国破产法》第11章开始在特拉华州地区法院启动自愿破产程序，从而可以有序地为全球股东评审并变现资产。
The world's second largest encrypted currency platform, FTX Trading Company (FTX.com), issued an announcement via official social media accounts in 11 that FTX Trading Company, FTX USA, Alameda Research Company and some 130 other subsidiaries had commenced voluntary insolvency proceedings in the Delaware State District Court in accordance with Chapter 11 of the United States Bankruptcy Code, allowing for the orderly evaluation and realization of assets for global shareholders.
公告说，FTX创始人兼首席执行官山姆班克曼-弗里德（SBF）已经辞职，但将继续协助公司有序过渡。律师约翰杰伊三世（John J.Ray III）已经被任命为FTX新任首席执行官。
The announcement states that the founder and CEO of FTX, Sam Bankman Fried (SBF), has resigned, but will continue to assist the company in an orderly transition. Counsel John J. Ray III has been appointed as the new CEO of FTX.
杰伊说：“为了给FTX提供评估情势并形成最大程度收回股东投资的流程，通过《美国破产法》第11章立即提供缓冲是合适的。”
Jay said: &ldquao; to provide FTX with an assessment of the situation and a process for maximizing the recovery of shareholder investment, it would be appropriate to provide an immediate buffer through Chapter 11 of the U.S. Bankruptcy Code. & rdquao;
公告表示，LedgerX公司、FTX数字市场公司、FTX澳大利亚公司和FTX快捷支付公司不再此次破产程序之列。
The announcement stated that LedgerX, FTX Digital Markets, FTX Australia and FTX Fast Payers were no longer subject to the insolvency proceedings.
SBF在其个人社交媒体账号上表示道歉。他说，“我搞砸了，本应做得更好。我在把所有细节拼合起来，但我对事情在本周早些时候发展的方向感到震惊。”
SBF apologized on his personal social media account. He said, &ldquao; I screwed up and should have done better. I was putting all the details together, but I was shocked at how things went earlier this week. & rdquao;
FTX创立于2019年5月，在安提瓜与巴布达注册，总部位于巴哈马，全球用户超过100万。FTX在日前陷入流动性危机，全球最大加密货币平台币安（Binance）一度表示有意收购FTX，但最终放弃。
Founded in May 2019, FTX is registered with Antigua and Babuda, based in the Bahamas, with more than 1 million users worldwide. The FTX is currently in a liquidity crisis, with Binance, the world’s largest encrypted currency platform, once expressing interest in buying FTX, eventually giving up.
FTX有关消息在近日刺激加密货币价格大幅波动并引起股市相关股票价格出现震荡，比特币和以太币等加密货币价格在11日出现超过5%的跌幅。
In recent days, news about FTX has stimulated large fluctuations in the price of encrypted currencies and caused stock market-related stock prices to collapse, with prices of encrypted currencies such as Bitcoin and Temas falling by more than 5 per cent on 11 November.
比特币跌破1.7万美元
Bitcoin fell by $17,000.
全球上百家投资机构集体“踩雷”
Hundreds of investment agencies worldwide & & ldquao; stamping mines & rdquao;
当地时间11月12日，加密货币交易所FTX创始人SBF在社交媒体上宣布，包括交易所FTX.com，关联交易公司Alameda Research等130多个关联公司（合称FTX集团）已经自愿按照美国破产法第11章申请破产，以便“从全球利益相关方的利益出发，有序地评估和变现资产”。按照美国法律，申请此类破产的公司可以在制定债务偿还方案时继续维持经营。该交易所已经暂停了加密货币提取业务。
On November 12, local time, the founder of the encrypted currency exchange FTX, SBF, announced in social media that more than 130 affiliated companies, including the exchange FTX.com, associated trading company Alameda Research, had voluntarily applied for bankruptcy under Chapter 11 of the United States Bankruptcy Code in order to &ldquao; that it was in the interest of global stakeholders to assess and liquidate assets in an orderly manner & rdquao; and that, under United States law, companies applying for such bankruptcy could continue to operate while debt repayment schemes were in place.
消息发布后，比特币跌幅一度超5%，并跌破1.7万美元的整数位。截至记者发稿，比特币的价格为16804美元。
After the news came out, Bitcoin fell by more than 5% and fell by the exact figure of $17,000. As a reporter's release, Bitcoin was at a price of $16,804.
而在FTX背后的明星投资机构，除红杉资本之外，还包括淡马锡、贝莱德、老虎环球、软银集团、加拿大安大略教师退休基金等至少上百家投资机构（不考虑重复跟投），无一例外将受到不同程度的打击。
And the star investment agency behind FTX, in addition to Redwood capital, includes at least a hundred investment agencies such as Leatsi, Belede, Tiger Globe, Silver and Soft Group, and the Ontario Teacher Retirement Fund in Canada (without double funding), without exception, will be hit to varying degrees.
加密货币媒体THE BLOCK表示，专注加密货币的投资的Multicoin Capital向投资人发信，FTX暴雷，公司10%的管理资产会受到影响。
The encrypted currency media THE BLONK indicated that Multicoin Capital, which focused on investments in encrypted currencies, sent letters to investors, and that FTX thunderstorms affected 10 per cent of the company's management assets.
FTX溃败前并非毫无征兆
FTX wasn't without signs before it collapsed.
今年以来多家公司纷纷倒闭
Many companies have been shut down since this year.
11月11日，即使彭博援引一位知情人士称：“由于资产负债表属于个人隐私，红杉资本在对FTX.com和FTX.us的投资前审查中无法获得Alameda的资产负债表。其他投资方情况大致相似。”
On November 11, even if Bloomberg quotes an informed source: & ldquo; because the balance sheet is personal, Redwood capital is unable to obtain Alameda's balance sheet in pre-investment reviews of FTX.com and FTX.us. The situation is similar for other investors. & & rdquo;
但明星投资机构的集团“踩雷”，让投资人Shaan Puri在社交媒体感叹，世界上根本没有所谓的“聪明钱”，那些风险投资机构将巨额资金疯狂地投向了加密货币企业，甚至这些企业具有严重缺陷。
But the group of star investment agencies & & ldquo; stepping & rdquo; making the investor Shaan Puri feel in social media that there is no so-called & ldquo; smart money & rdquo; and venture capital institutions that are madly pouring huge amounts of money into encrypted money enterprises, even with serious flaws.
红杉资本合伙人Alfred Lin甚至在FTX的B轮融资时评价道：“FTX是全球需要的优质全球加密货币交易所，有潜力成为各类资产的领先金融交易所。SBF是打造这项业务的完美创始人，团队的执行力非凡。”
Alfred Lin, Redwood Capital Partner, even during the FTX B round of finance, assessed that: & ldquo; FTX is a high-quality global encrypted currency exchange that is needed globally and has the potential to become a leading financial transaction for all kinds of assets. SBF is the perfect founder of this business, and the team is very powerful. & rdquo;
值得注意的是，FTX溃败之前，市场并非毫无征兆。
It is worth noting that before the collapse of FTX, the market was not without signs.
今年以来，加密货币公司Voyager Digital和Celsius Network、Terraform Labs纷纷倒闭，加密货币对冲基金三箭资本破产，就已为FTX惨败敲响了警钟。
Since the beginning of the year, the collapse of encryption money companies Voyager Digital and Celsius Network, Terraform Labs and the collapse of the capital of the three arrows of the encrypt currency hedge fund have been a wake-up call for the tragic defeat of FTX.
加密货币市场一直饱受争议，在资本市场狂热的背后，不乏大量人士在呼喊“风险”。
The crypto-currency market has been controversial, and behind the frenzy of capital markets a large number of people are shouting & ldquao; risk & rdquao;
新兴市场投资之父Mark Mobius就曾试图扑灭大众对加密货币的热情：“加密货币是一种宗教，不是一种投资。” 但是，对狂热分子而言，这仅是“狼来了”的故事，而忽略了每次呼喊背后，真实的“狼”就隐匿其中。
Mark Mobius, the father of investment in emerging markets, has tried to suppress popular enthusiasm for encrypted money: “ encrypt currency is a religion, not an investment. & & & & & & & & & & & ; for fanatics, however, this is only & & & & & & & & & ; stories that ignore the real & & & & & & & &, hidden behind every shout.
币安创始人告诫：
The founder of the currency warned:
1.永远不要使用你创造出的代币做抵押；
1. Never use the tokens that you have created as collateral;
2.不要借钱做币圈生意，不要盲目追求资本的有效使用，而应保留大量的储备。
2. Do not borrow money to do business in currency circles, do not blindly pursue the efficient use of capital, but keep large reserves.
观察
Observation
FTX为何深陷“雷曼时刻”？
Why is FTX trapped in & ldquao; Lehman Times & rdquao;
· 疯狂融资 ·
& Middot; Mad Financing & Middot;
FTX是一家数字资产衍生品交易所，成立于2019年5月。用户可以在其中交易比特币、以太币和其他加密货币，以及相关的衍生品。FTX在2019年8月完成了种子轮融资，募集800万美金，区块链投资基金Proof of Capital、Consensus Lab、FBG、Galois Capita等参与了投资。
FTX, a digital asset derivatives exchange, was established in May 2019. Users can trade bitcoin, tasco and other encrypted currencies, and related derivatives. FTX completed seed rotation financing in August 2019, raising $8 million, and the block chain investment fund Proof of Capital, Consensus Lab, FBG, Galois Capita, etc. was involved in the investment.
2021年7月，FTX完成9亿美元B轮融资，投后公司估值达180亿美元，为加密行业历史规模最大的融资。公司该轮融资共超60家（位）投资方参与，包括红杉资本、软银、保罗·都铎·琼斯家族办公室等。FTX当时宣称，本轮为战略性融资，希望借由融资达到与传统市场投资人合作的战略布局。
In July 2021, FTX completed a $900 million B round of financing, valued at $18 billion after the investment, and financed the largest in the history of the encryption industry. The company’s financing round involved more than 60 investors, including Redwood capital, silver and silver, Paul & Middot; Dodo & Middot; Jones House Office, etc. The FTX claimed that the round was strategic financing, and that it was hoped that the financing would reach the strategic layout of cooperation with traditional market investors.
2022年1月31日，FTX宣布以320亿美元估值完成4亿美元C轮融资。本轮融资的参与者包括软银、帕拉丁、老虎环球基金，以及安大略省教师退休金计划委员会。
On January 31, 2022, FTX announced that it would complete a $400 billion C round of finance with an estimated value of $32 billion. Participants in this round of funding include silver and silver, Paradine, the Tiger Sphere Fund, and the Ontario Teachers' Pension Scheme Board.
除了FTX自身在进行融资，公司旗下为美国投资者提供服务的FTX US也在2022年1月宣布以80亿美元估值完成4亿美元A轮融资，本轮融资由帕拉丁、软银远景基金二期、淡马锡等机构参投。
In addition to FTX's own financing, the company's FTX US, which provides services to United States investors, announced in January 2022 the completion of a $400 million A round of financing with an $8 billion valuation, with the participation of agencies such as Paladine, the Soft and Silver Vision Fund II and the Lightmass.
公司在美国站稳脚跟后，开始在全球进行扩张。2022年3月7日，FTX成立欧洲子公司FTX Europe，并获得了塞浦路斯证券交易委员会（CySEC）的监管许可，为欧洲用户提供加密衍生品交易服务。3月21日，FTX成立澳洲子公司FTX Australia，已获澳洲监管许可开展业务。4月4日，FTX完成对日本加密资产交易平台Quoine及其母公司Liquid的收购，并为日本客户提供产品和服务。
On 7 March 2022, FTX established a European subsidiary, FTX Europe, and obtained a regulatory licence from the Cyprus Securities and Exchange Commission (CySEC) to provide encrypted derivatives trading services to European users. On 21 March, FTX established an Australian subsidiary, FTX Australia, which was licensed to operate under Australian supervision. On 4 April, FTX completed the acquisition of Quoine and its parent company Liquid, an encrypted asset trading platform in Japan, and provided products and services to Japanese customers.
· 加强监管 ·
& Middot; Strengthening Regulation & Middot;
在全球主要国家加强加密货币交易监管后，以比特币为代表的加密货币在2021年年底开始进行调整。以比特币为例，其曾在2021年11月达到68580美元的历史高点，随后一路下跌。目前价格已经不足17000美元。过去一年下跌幅度超过70%。
As a result of increased regulation of encrypt currency transactions in major countries around the world, the encrypt currency, represented by bitcoin, began to be adjusted at the end of 2021. In the case of bitcoin, it reached a historic high of $685,800 in November 2021, after which it fell.
同样，为加密货币提供交易场所的数字货币交易所也逐渐陷入困境。
Similarly, digital currency exchanges, which provide a place for the exchange of encrypted money, are becoming increasingly difficult.
根据币圈媒体CoinDesk爆料称，Alameda公司将陷入破产危境，资产负债表中的大部分资产，属于FTX自行发行的FTT代币。这一消息，瞬时引发市场恐慌，FTT遭大面积抛售，致使FTX陷入流动性危机。
According to the currency press CoinDesk, Alameda would be in a state of bankruptcy, and most of the assets on the balance sheet would be in FTX’s proprio monetized FTT. The news triggered a sudden market panic, and FTT was sold on a large scale, leaving FTX in a liquidity crisis.
11月9日，全球最大加密货币交易所币安原计划收购FTX。但仅尽调1日之后，币安创始人赵鹏就公开表示：“FTX的问题超出了我们的控制和帮助能力。”至此，四面楚歌的FTX走进了全面崩盘的“雷曼时刻”。
On November 9, the largest encrypted currency exchange in the world planned to buy FTX. But just one day later, the founder of the currency, Zhao Peng, said publicly: & ldquo; the problem of FTX is beyond our control and help. & rdquo; so far, the FTX has entered the & ldquo; Lehman Motion & & rdquo;
综合新华财经 证券时报 澎湃新闻
Xinhua Finance, Securities Times, News.
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