Everyone seem to think that it's the Cabal trying to destroy the crypto market to screw with "We the people". There are a few points to consider that might point to the other direction.
FTX and Alameda were both very closely related. The Harry-Potter-Loving CEO of Alameda is the daughter of the guy who was the boss of Gary Ginsler, chairman of SEC, when he was in MIT.
Trigger for FTX collapse was when Binance pulled out of a deal while doing due diligence. Binance is funded by a Chinese company, and Xi seems to have consolidated his power in China, meaning Binance is actually under white hat control.
FTX was deeply involved with money laundering for democrats.
Sam's family deeply involved with WEF, Clintons etc
Overall, if the Cabal wanted to take down crypto to spread panic amongst crypto enthusiasts, they could not have picked a worse target. All its doing is opening people's eyes to all kinds of corruption, while also shooting their own best assets.
I believe this is a White Hat operation, and the timing is not a coincidence. I believe there might be some connection to what Trump is going to announce in two days.
This is the conventional thinking right now, but I am saying that the Black Hats would not have imploded their pet project and expose corruption connection to Dems to create this problem-reaction-solution cycle. So this must have been done by the WHs.