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Crypto Biz: Establishments quick Bitcoin as SBF is ‘deeply sorry’ for FTX collapse
The monumental collapse of FTX will go down as one of many greatest company scandals of all time. However, at the least Sam Bankman-Fried, or SBF, is sorry. On Nov. 22, the disgraced founding father of FTX penned a letter to his former staff describing his position within the firm’s chapter. “I by no means meant this to occur,” he wrote. “I didn’t understand the complete extent of the margin place, nor did I understand the magnitude of the chance posed by a hyper-correlated crash.” Get this: SBF nonetheless thinks the corporate will be saved as a result of “there are billion of {dollars} of real curiosity from new traders.” Shouldn’t he be preoccupied with making an attempt to keep away from jail proper now?
(BTC) and the broader crypto market have been reeling within the wake of the scandal. Whereas this has allowed many diamond handed hodlers to build up extra BTC on a budget, institutional traders are utilizing this chance to quick the market. We could lastly get that remaining capitulation to spherical out the present four-year cycle.
Sam Bankman-Fried says he’s ‘deeply sorry’ for collapse in letter to FTX staff
FTX owes over $3 billion to its 50 greatest collectors: Chapter submitting
FTX disaster results in document inflows into short-investment merchandise
US senators urge Constancy to rethink its Bitcoin choices after FTX blow-up
Earlier than you go: May Grayscale set off the following Bitcoin worth collapse?
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