Sam Bankman-Fried: Some Third Tier Exchanges Are Already Secretly Insolvent

Summary: Sam Bankman-Fried suggested that some third-tier exchanges are in deep trouble but customers might not know yet. The FTX chief also opined that a few platforms are too far gone and providing backstops could be impractical. BlockFi and Voyager Digital received crucial credit lines to sustain their businesses from SBF-backed firms. FTX CEO and Billonaire Sam Bankman-Fried believes a few third-tier crypto exchanges are already battling insolvency amid a possible bear cycle where token prices have slumped and uncertainty … Continue reading Sam Bankman-Fried: Some Third Tier Exchanges Are Already Secretly Insolvent