Two More Crypto Exchanges under Collapse
The failure of FTX has bring more and more bad things in the crypto market as more and more crypto exchanges are on the brink to settle a bankruptcy statement.
More specifically, crypto exchange BlockFi was one of the companies that was acquired from FTX and its collapse has an instant effect in BlockFi. The credit that was offered to BlockFi was around $355 million, that disappeared in one night.
Another crypto exchange that filed for bankruptcy was Bitfront, which had Line as an investor, the largest social media company in Japan. The company stated that the bankruptcy was unrelated with FTX but the overall situation in the crypto market.
We can say that the crypto market has started to clear out and we hope the crisis to came by and the normality return to the markets.