SBF tells investors FTX needs $8B in emergency funding: WSJ
According to reports, FTX CEO Sam Bankman-Fried asked investors for emergency funding to cover an $8 billion shortfall during a Nov. 9 investors call.
According to reports, FTX CEO Sam Bankman-Fried asked investors for emergency funding to cover an $8 billion shortfall during a Nov. 9 investors call.
Neither FTX CEO Sam Bankman-Fried nor any FTX official has provided its users with clarity as to why FTX’s website was taken down.
Cryptocurrencies understood to have exposure to Sam Bankman-Fried, FTX, and Alameda Research appear to have been impacted the most.
BTC and altcoins collapse following news that Binance declined to purchase FTX. Analysts share their perspectives on what’s next for the market.
Similar protocols are used by Kraken, Bitmex, Gate.io, and many other exchanges, but were not used by FTX.
“With a global MiCA, the FTX crash would not have happened,” said European Parliament economics committee member Stefan Berger.
The firm pushed Maple Finance to halt Alameda’s dedicated borrower pool earlier this year.
Binance cited allegations of the mishandling of consumer funds and an investigation from regulators as reasons for exiting the agreement.
Pages for the quantitative trading firm and the venture capital arm have been taken offline and made private.
Binance faces far less competition in the aftermath of FTX’s fall, but it still may not win a surge in new users.