did an interview with Bankman-Fried, and the FTX CEO was very candid about crypto exchanges that are “secretly insolvent.”
Bankman-Fried also spoke about the recent investments in Blockfi and Voyager, as the FTX CEO explained there’s a chance he may not get a return on his investment. “You know, we’re willing to do a somewhat bad deal here, if that’s what it takes to sort of stabilize things and protect customers,” Bankman-Fried told the Forbes contributor. The FTX CEO said that more platforms will bow out from financial burdens in the near future.
“There are some third-tier exchanges that are already secretly insolvent,” Bankman-Fried detailed. “There are companies that are basically too far gone and it’s not practical to backstop them for reasons like a substantial hole in the balance sheet, regulatory issues, or that there is not much of a business left to be saved,” he added.to deploy billions on mergers and acquisitions. Bankman-Fried told Forbes that FTX is financially sound and has been profitable for 10 quarters.
If he gonna give us a warning then he should give names instead of just saying teir 3 exchanged.that creates fear everywhere ! I don't think this is fud at all . Many exchanges has dipped in too much mishandling their investments and now must worm into their customers coi
Keep spreading FUD Sam
Hmmm $PAW
In order for the cryptocurrency science to continue, digital platforms must delete thousands of cryptocurrencies 🗳️
$PAW can never fail ,I know that
Can people follow me please
Set your balances on exchanges to zero.
NeOsKaR0722 mk mire!!
Coinbase
Is he talking about FTX?
This whole industry has turned into a bunch of cannibals and assholes constantly talking hair and spreading FUD about each other. It’s sad and a big put off for people