The about-face is yet another major market disruptor in an increasingly volatile industry. The deal would have combined two of the world’s largest crypto platforms amid concerns about the financial viability of many companies whose digital assets have dropped significantly in value in recent months
The reversal immediately puts the future of FTX, once one of the crypto industry's most popular and valuable companies, in doubt.that the company was privately valued earlier this year at $32 billion and may now be on the verge of insolvency.
Not surprising. As Bitcoin and Other cryptos drop, this is going to get worse for both companies. Liquidity is drying up. This Ponzi Scheme could be nearing its end.
Bye bye crypto
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