.IOHK_Charles joins the list of critics of NYT’s article about the bankruptcy of SBF_FTX Cardano FTX FTXCRASH
Guys it might be a good idea to donate some money to certain politicians. It seems that you can get away with anything and have zero media accountability.""Twitter has broken just about every piece of this FTX story using blockchain analytics, while NYT is writing puff pieces on a criminal. Feels like a turning point for citizen journalism and loss of trust in MSM."The outrage ensued as the fall of SBF’s empire brought a meltdown to the cryptocurrency market.
Not only has the price of Bitcoin and altcoins been affected, but companies have started to declare insolvency. An example of this is BlockFi, a crypto credit platform that can file for judicial recovery. Last Thursday, BlockFi paused customer withdrawals, and earlier this week, the company reaffirmed that it would keep withdrawals paused and limit activity., as it had a $400 million line of credit on the bankrupt exchange.
On Friday, Nov. 11, Sam Bankman-Fried announced his departure as CEO of FTX and was replaced by J. Ray III, who has already worked in restructuring companies after bankruptcy, such as Enron Corporation. Additionally, SBF has filed for Chapter 11 bankruptcy protection not only for the cryptocurrency exchange but also for Alameda Research and an additional 130 companies affiliated with FTX.
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