When FTX was on the brink, things got wild behind the scenes. Back in August 2023, it came out that SBF had quietly approached Justin Sun looking for a lifeline—we're talking about a rescue package starting at $1 billion or more. The conversation happened, numbers were thrown around, but ultimately nothing materialized. This whole saga became a turning point for the industry, forcing everyone to rethink counterparty risk and due diligence. It's one of those moments that fundamentally changed how the market views exchange solvency and the importance of transparent reserves. Looking back now, this episode serves as a brutal reminder: even platforms that seemed too big to fail weren't immune to collapse when trust evaporated.