Another crypto company is going under.
, “I was shocked to see things unravel the way they did earlier this week. I will, soon, write up a more complete post on the play by play, but I want to make sure that I get it right when I do.”, and a statement from Binance founder Changpeng Zhao saying he planned to sell his cache of FTX’s crypto token, caused a liquidity crunch exposing a reported $8 billion hole in the beleaguered company’s balance sheet.
In a note posted to the company’s Twitter account, it said Bankman-Fried would stick around to participate in an “orderly transition.” We’ve already seen investors in FTX like Sequoia
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