FTX Asks Wall Street for Help, But The Hole Is Too Big to Close!

BinanceThe process, which started with the announcement of .

The markets, which reacted positively to this in the first stage, experienced a big dump after the continuation.

of FTX Binance The fact that he could not fight against it was considered as a declaration that he had sunk. While investors who feared the domino effect of this, exited cryptocurrencies, Bitcoin fell to $ 18400.

Semaphore FTXHe said that he reached the authorities from . and learned what happened before his agreement with Binance.

Accordingly, speaking to Semafor, FTX requested a bailout of more than $1 billion from Silicon Valley and Wall Street billionaires before seeking help from Binance.

Meanwhile, the unmet demand for shooting in FTX was around 5-6 billion dollars.

FTX’s inability to meet these withdrawals was a result of the liquidity crisis. FTX’s inability to respond to withdrawal requests despite selling many of its coins made the crisis unmanageable.

For now, the details of the agreement between Binance and FTX are unknown. However, SBF said that FTX.US was not involved in the deal.

Binance The CEO, on the other hand, stated that they will make their final decisions by examining FTX’s trading books and that they reserve the right to withdraw from this agreement.