The Crypto Scandal Gets Worse. FTX Contagion Continues.
How bad is the crypto world about to get?
Well, if you haven’t been paying attention, the second-largest exchange in the world, FTX, has filed for bankruptcy. Ran by America’s golden boy of crypto, Sam Bankman-Fried was supposed to be the Jamie Dimon of the crypto world.
Last week we covered the rise and fall in detail, this week we are going to cover the damage it has caused everyone around it. What does this one large event mean for all the partners, lenders, depositors, promoters, regulators, and stakeholders involved with the FTX insolvency?
00:00 Introduction
00:42 How contagion looks like in the crypto space
04:00 The biggest loser … so far
05:47 The lenders, exchanges, and funds
07:05 The celebrities
08:22 The real biggest losers
09:49 Trust no one!
https://www.bloomberg.com/opinion/articles/2022-11-16/ftx-creates-crypto-contagion
https://www.reuters.com/technology/cryptoverse-so-long-solana-ether-rival-clobbered-by-ftx-crash-2022-11-15/
https://pacer-documents.s3.amazonaws.com/33/188450/042020648197.pdf
https://www.coindesk.com/business/2022/11/16/genesis-crypto-lending-unit-is-halting-customer-withdrawals-in-wake-of-ftx-collapse/
https://www.bloomberg.com/news/articles/2022-11-16/winklevoss-s-gemini-pauses-withdrawals-on-lending-program
https://www.coindesk.com/business/2022/07/18/genesis-global-issued-236b-in-undercollateralized-loans-to-three-arrows-capital/
https://news.sky.com/story/tom-brady-and-larry-david-among-celebrities-named-in-lawsuit-against-failed-crypto-exchange-ftx-12749369#:~:text=Celebrities%20including%20NFL%20star%20Tom,for%20promoting%20the%20failed%20firm
https://twitter.com/GRDecter/status/1591275420045172737/photo/1
#FTXcrash #cryptocurrency #binance
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