Bitcoin (BTC) $61,956.82 -0.29%
Ethereum (ETH) $2,417.96 0.03%
Tether (USDT) $1.00 -0.01%
Solana (SOL) 142.681229 -0.52%
Cardano (ADA) $0.35 -0.98%
Chainlink (LINK) $11.31 1.15%
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Cryptocurrencies: 23154

Markets: 85238

Market Cap: $2,153,391,442,994

24h Vol: $36,796,118,263

CoinGape

2022-11-23 03:16:18

FTX Reports $51 Billion Crash In Collateral, Sequoia Apologises Investors

FTX Reports $51 Billion Crash In Collateral, Sequoia Apologises Investors

On Tuesday, November 22, in a letter to staff, FTX founder Sam Bankman-Fried outlined a $51 billion crash in the company’s collateral which has dropped to $9 billion from $60 billion. In his letter obtained by Bloomberg, SBF wrote that a combination of sell-offs in cryptocurrencies, a credit squeeze, and a “run on the bank” The post FTX Reports $51 Billion Crash In Collateral, Sequoia Apologises Investors appeared first on CoinGape .

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