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ZEST fluctuated by 2766.3% within 24 hours, current price $0.053301

【ZEST fluctuated over 50% in 24 hours!】ZEST fluctuated by 2766.3% within 24 hours, current price $0.053301

ZEST fluctuated over 50% in 24 hours!

RDNT fluctuated by 51.68% within 24 hours, current price $0.00226

【RDNT fluctuated over 50% in 24 hours!】RDNT fluctuated by 51.68% within 24 hours, current price $0.00226

RDNT fluctuated over 50% in 24 hours!

ATWO fluctuated by 222.97% within 24 hours, current price $0.015399

【ATWO fluctuated over 50% in 24 hours!】ATWO fluctuated by 222.97% within 24 hours, current price $0.015399

ATWO fluctuated over 50% in 24 hours!

SYS fluctuated by 52.78% within 24 hours, current price $0.0037

【SYS fluctuated over 50% in 24 hours!】SYS fluctuated by 52.78% within 24 hours, current price $0.0037

SYS fluctuated over 50% in 24 hours!

CLAWNCH fluctuated by 59.9% within 24 hours, current price $1.834e-05

【CLAWNCH fluctuated over 50% in 24 hours!】CLAWNCH fluctuated by 59.9% within 24 hours, current price $1.834e-05

CLAWNCH fluctuated over 50% in 24 hours!

CLAWD fluctuated by 90.65% within 24 hours, current price $2.952e-05

【CLAWD fluctuated over 50% in 24 hours!】CLAWD fluctuated by 90.65% within 24 hours, current price $2.952e-05

CLAWD fluctuated over 50% in 24 hours!

Bitcoin Fear and Greed Index is 25. Extreme Fear.
Current Price: $76906.26.

[Bitcoin Fear and Greed Index is 25]Bitcoin Fear and Greed Index is 25. Extreme Fear.
Current Price: $76906.26.

Bitcoin Fear and Greed Index is 25

GOAT fluctuated by 55.62% within 24 hours, current price $0.0249

【GOAT's 24-hour volatility exceeds 50%!】GOAT fluctuated by 55.62% within 24 hours, current price $0.0249

GOAT's 24-hour volatility exceeds 50%!

TRAC fluctuated by 74.03% within 24 hours, current price $0.3823

【TRAC fluctuated over 50% in 24 hours!】TRAC fluctuated by 74.03% within 24 hours, current price $0.3823

TRAC fluctuated over 50% in 24 hours!

FTX founder Sam Bankman-Fried apologized to his former colleagues and explained why the crypto exchange failed in a new letter. It started with the market's crash in Spring, followed by credit "drying up" and ending with customers withdrawing their funds en masse, Bankman-Fried said. Adding to those issues, FTX's poor margin management and risk controls ultimately led the company to file for bankruptcy protection, according to the letter. According to Bankman-Fried, FTX had around $60 billion in collateral and $2 billion in liabilities this spring, but a market crash meant the collateral's value was reduced to half. The drying up of credit in the industry meant FTX's collateral was worth around $25 billion, though liabilities jumped to $8 billion. Another crash in November "led to another roughly 50% reduction in the value of collateral over a very short period of time," at $17 billion at the time. Then a bank run, caused by what Bankman-Fried called "attacks" in November, reduced the collateral to $9 billion, he said. Despite the bankruptcy proceedings, Bankman-Fried still reckons there is a chance to save FTX.

Detail

【SBF: The value of collateral FTX uses for lending has fallen by $51 billion YTD】FTX founder Sam Bankman-Fried apologized to his former colleagues and explained why the crypto exchange failed in a new letter. It started with the market's crash in Spring, followed by credit "drying up" and ending with customers withdrawing their funds en masse, Bankman-Fried said. Adding to those issues, FTX's poor margin management and risk controls ultimately led the company to file for bankruptcy protection, according to the letter. According to Bankman-Fried, FTX had around $60 billion in collateral and $2 billion in liabilities this spring, but a market crash meant the collateral's value was reduced to half. The drying up of credit in the industry meant FTX's collateral was worth around $25 billion, though liabilities jumped to $8 billion. Another crash in November "led to another roughly 50% reduction in the value of collateral over a very short period of time," at $17 billion at the time. Then a bank run, caused by what Bankman-Fried called "attacks" in November, reduced the collateral to $9 billion, he said. Despite the bankruptcy proceedings, Bankman-Fried still reckons there is a chance to save FTX.

SBF: The value of collateral FTX uses for lending has fallen by $51 billion YTD

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Article

SBF: The value of collateral FTX uses for lending has fallen by $51 billion YTD

Disclaimer：The content above does not represent HTX's positions.，HTX does not provide any trading recommendations.。

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