More Crypto Companies Close to Bankruptcy ?
Sam Bankman – Fried, FTX’s CEO, one of the largest exchanges in the world, stated that many crypto companies are close to bankruptcy and this is not evident yet. For this reason, the bear market will continue for more.
FTX has made two moves regarding bail out for companies, Blockfi and Voyager Digital. Apart from them, they helped Three Arrows Capital hedge fund. More specifically, Three Arrows Capital received $500 million as a credit line while Blockfi received other $250 million in a respective move.
It’s expected that more companies that will face similar problems regarding liquidity, a fact that will clear the market right now.
Even if Bankman – Fried give money to everyone, the situation will not get better..