- Alameda already blew up in the second quarter of 2022.
- According to research by CoinMetrics, enormous funding from FTX helped it float.
- The funding ultimately brought trouble for the cryptocurrency exchange.
One of the biggest cryptocurrency exchanges in the world, FTX, came dangerously close to collapsing, which has shaken the market for digital assets.
In response to a “significant liquidity crunch” triggered by a large deluge of withdrawals, FTX reached a rescue agreement with its key competitor Binance, as reported by DailyCoin on Tuesday. Doubts about FTX’s financial health are said to have caused $6 billion in withdrawals in just three days.
Binance says that an agreement has been made for the purchase of FTX’s international operations, which will happen after due diligence is done. Binance CEO Changpeng “CZ” Zhao and FTX co-founder and chief rival Sam Bankman-Fried are two of the most powerful figures in…
