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FTX hurtles toward bankruptcy with $8 billion hole, US probe

2022/11/10 13:10

According to Bloomberg, the crisis engulfing Sam Bankman-Fried’s FTX.com is rapidly worsening, with the onetime crypto wunderkind warning of bankruptcy if his firm can’t secure funds to cover a shortfall of as much as $8 billion.

Bankman-Fried informed investors of the gap on Wednesday, shortly before rival exchange Binance abruptly scrapped a takeover offer. He said FTX.com needed $4 billion to remain solvent and is attempting to raise rescue financing in the form of debt, equity, or a combination of the two.

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All Comments1LatestHot

LatestHot
  • sp1cemagicka.verse

    better be some solution, otherwise it'll be a heavy blow for all the crypto industry

    2022-11-10 14:57Reply1

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