The collapse of FTX, Sam Bankman-Fried (SBF) empire and second-largest crypto exchange, has a profound impact on the future of crypto. Peter Schiff warns about the risks of investing in highly leveraged, non-regulated, trending markets.
FTX what happened?
The collapse of FTX came as a surprise to many, but as more information pours in, it seems FTX’s liquidity crisis began sooner than many thought.
The world’s third-largest cryptocurrency exchange, FTX, started the year with a $400 million Series C funding round, taking its valuation to over $32 billion. Ten months later, the crypto exchange is staring down the possibility of bankruptcy after its bid to be acquired by Binance failed. – Source: Cointelgraph
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