Source: https://www.linkedin.com/feed/update/urn%3Ali%3Ashare%3A6995774127898836992
#SamBankmanFried’s #crypto #exchange #FTX #Token Plummets 93% The 94% loss is the biggest one-day collapse ever among #billionaires tracked by #Bloomberg. https://lnkd.in/ga2hwdnz: https://lnkd.in/geKvuUZX :
Bloomberg LP: Just weeks ago, Sam Bankman-Fried was considered crypto’s version of John Pierpont Morgan, willing to throw around his massive fortune to save the industry. Just last year he said that once his FTX was big enough, it could swallow #CME Group Inc. or #GoldmanSachs Group Inc. https://lnkd.in/gnz86gDU
The Bloomberg wealth index assumes existing FTX investors, including Bankman-Fried, will be completely wiped out by Binance’s bailout, and that the root of the #exchange’s problems stemmed from Alameda. As a result, both FTX and Alameda are given a $1 value. That leaves SBF’s net worth at about $1 billion, down from $15.6 billion heading into Tuesday.
#Binance Sought to Acquire #FTX?: https://lnkd.in/dbW3CJkk :
#Bitcoin $17,484:, #Cyptos Test New 2-Year Low https://lnkd.in/gj4R3xbq :
U.S. seizes $3.4 billion #BTC stolen from the #SilkRoad marketplace: https://lnkd.in/gfQg9BJE :
First #Crypto #Vulnerabilities Report on #Bitcoin #Protocol: https://lnkd.in/ePsDYDK :
Fears have spread after #ChangpengZhao, CEO of rival exchange #Binance, tweeted Sunday that he would #liquidate at least $342 million worth of FTT (at current prices) in coming months “due to recent revelations that have come to light.” Those appear to be related to a withdrawal request backlog at FTX and allegations of the weakness of FTX’s #balancesheet.
WORLD LEADING RISK MANAGEMENT
#Bitcoin tumbled to as low as $17,484 Tuesday, the lowest level since Nov. 2020, after #Binance, the world’s largest crypto exchange, said it had signed a letter of intent to acquire the non-U.S. assets of rival #FTX, which faces a “significant #liquidity #crunch.”
#Credit #Risk Can Hurt You, But #Liquidity #Risk Can Kill You:
#JPMorgan #World #HQ #Liquidity #Risk #Expert #Guidance: https://lnkd.in/gVCwH8t6 :
#FutureOfRisk is [Already] #Quantum, Are You Prepared?: https://lnkd.in/gPJfiNcv :
LATEST IN-DEPTH: CRYPTOCURRENCY
#FTX: https://lnkd.in/g8Se-WZ6 .
#Alameda: https://lnkd.in/g7d2fYvM
#Binance: https://lnkd.in/gxFk6pqS
#Cryptocurrencies: https://lnkd.in/gxAERDyC
#CryptoCurrencyExchanges: https://lnkd.in/gVnz7tJM
#Bitcoin: https://lnkd.in/gfMsC8k
#Ether: https://lnkd.in/gjmWDJVb
#Solana: https://lnkd.in/gc-UkHEv
#BitDao: https://lnkd.in/gKavX8-k
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