Sam's fortune in just 1 day fell by $14.6 billion (-93.8%) to $991 million.
Russian IT companies may be allowedsettlements in cryptocurrency when exporting IT solutions.
CZ believes that all crypto exchanges should use proof of reserves (proof-of-reserves) - Binance and other exchanges will start using this system soon.
At the beginning of 2022, FTX's valuation was $32 billion - at that time, the company held 5 series of investments, having received money from the Ontario pension fund, BlackRock, Paradigm, Circle and others.
Moreover, ~18.3 million SOL will exit staking in a day, and after that it will get really hot.
Alameda went bankrupt in the second quarter, along with other participants in the collapse of Celsius and 3AC.
Do Kwon, Zu Shu (Three Arrows Capital) and Sam Bankman-Freed are at large - but the guy who wrote part of the Tornado Cash source code is in prison.
Over the past 24 hours, about $1 billion in ETH, $950 million in USDC, $400 million in USDT and $195 million in BUSD have been withdrawn from crypto exchanges.
Binancerefused to buyFTXafter a comprehensive review of the company’s reporting and structure.“As a result of due diligence,and the latest news about the misuse of customer funds and the alleged investigations of the US agency, we have decided that we will not proceed with the potential acquisition of FTX.”
PS: They say the hole in FTX's budget could be as high as $8 billion, and even if CZ couldn't save them, no one can.
FTX customer deposits will be reinstated through bankruptcy court, a process that will drag on for many years. For example, MtGox users have been waiting for their returns for 10 years.
Curly Sam must prepare a good speech forcourt and FBI agents, who will come to visit very soon. The black streak in the life of this guy is just beginning, because most recently he was one of the main sponsors of the Democratic Party, which today is losing in the elections.
Ironically, the Alameda Research Foundation has beenfor many months he manipulated the market and pulled money from young projects, and also pumped money on the non-blockchain Solana, and as a result he himself became a victim of the market.
New cities will grow on the ruins of old empires, and for all of us, this situation will be a good lesson before the start of a new cycle of market development.
