Netflix has a new documentary called "Madoff the Monster of Wall Street" and it is essentially a mirror into the FTX/cross collateralized ponzi business of what is happening in crypto currency markets and also the euro-dollar offshore markets.

There is a baseline level of money but all of the returns and "wealth" built on top of the base money is just a credit derivative. Tons and tons of paper money giving everyone the appearance of wealth but the second a few big players want to exit the entire house of cards collapses.