FTX crash has plunged the Crypto world into darkness – Katoch Tubes

Crypto market drowned with FTX

About FTX

FTX is one of the leading cryptocurrency exchanges in the world. Infact, by volume FTX was the second largest exchange after Binance sometime back.

Founder of FTX

Sam Bankman-Fried is the founder of FTX. He's also the founder of Alameda Research, the investment arm of FTX.

The Failed Acquisition

In a tweet, Binance's founder  CZ announced that to save FTX from liquidity crunch Binance will acquire it. But the deal is dead in the water

Why Binance didn't buy FTX?

Swipe up to learn why the deal failed to take-off.

Learn more

The Bankruptcy

Acc. to a statement released by Sam, FTX requires $8 billion to overcome bankruptcy. Right now, there's no saviour

Sequoia marked FTX 0

Sequoia capital has marked FTX a $0 investment after investing $210 million in the crypto exchange. It's likely to die a  slow death.

The market Crash

The market sentiments are so bad. No one wants to buy the dip. Bitcoin was down below $15K, ETH is heading back to $700. Darkest days are here.

What will happen next?

It's going to be bad for cryptos. Rising inflation, fear of recession, layoffs. Expect crypto winter to continue for the next year as well.

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