FTX need $8 billion to prevent bankruptcy. What next? – Katoch Tubes

Is FTX heading towards bankruptcy

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.

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