If the great SBF can be done in this quickly what does that say for anyone else in the once\u002Dhot cryptocurrency industry? Read more.
So the sudden collapse of his crown jewel — the crypto exchange FTX.com, which now needs a bailout from its chief rival, Binance Holdings Ltd. — has left crypto investors in stunned disbelief.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc.
The list of losers in the collapse includes investors in Bankman-Fried’s exchange, valued at nearly US$32 billion in a January financing. Those include blue-chip names like the SoftBank Group Corp.’s Vision Fund, the Ontario Teachers’ Pension Plan, the Singapore wealth fund Temasek Holdings Pte., hedge fund Tiger Global Management and Lightspeed Venture Partners.
“The most obvious question is what happens to Alameda and the debt that they owe,” said Matt Walsh, founding partner at crypto venture capital firm Castle Island Ventures.
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The downfall of Sam Bankman-Fried: Cryptocurrency investors stunned as crown jewel FTX collapsesIf the great SBF can be done in this quickly what does that say for anyone else in the once\u002Dhot cryptocurrency industry? Read more.
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