# How the FTX Meltdown Happened—explained by Castle Island's Matt Walsh

*Author: Ryan Sean Adams, David Hoffman*
*Published: Nov 16, 2022*
*Source: https://www.bankless.com/podcast/how-the-ftx-meltdown-happened-explained-by-castle-islands-matt-walsh*

---

We're pissed. How are you feeling?

Matt gives us a breath of fresh air as he outlines the timeline of the rest of the contagion, how long the healing process will take, what happens next, and how we rebuild this industry we've all come to know and love.

---

### TIMESTAMPS & RESOURCES
0:00 Intro

4:52 We're Pissed

9:52 Alameda Leveraged Data

13:34 Why Did We Accept This?

15:19 Regulators & Regulation?

21:55 Where Did the Money Come From?

24:42 The Human Destruction

26:35 Who Can You Trust?

30:51 What Will Regulators Do?

35:35 Will the Contagion Continue?

38:42 BlockFi 

40:44 What Caused This?

45:10 Ego

47:50 What Should We Do Going Forward?

56:26 Who & Where Are the Adults?

58:33 How Long to Heal?

1:02:05 Is the Worst Behind Us?

1:03:55 Closing & Disclaimers 

---
Matt Walsh

https://twitter.com/MattWalshInBos
---

*This article is brought to you by [MetaMask](https://www.bankless.com/sponsor/metamask-1776260643?ref=podcast/how-the-ftx-meltdown-happened-explained-by-castle-islands-matt-walsh)*