FTX Crypto Black Swan Explained

The FTX Black Swan what is actually Happening to explain it in the quickest Way possible ftxc exchange created their Own token ftt and that token was sold to The market to create some illusion of a Value with the portion that they did Hold they secured loans with it as Collateral they essentially used their Sort of valueless token dare I say in Order to go get real money and then Leverage themselves even further with Customer funds well that has now ended In a disaster