FTX is gone

xuanling11
Coinmonks
Published in
1 min readNov 8, 2022

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Photo by Brianna Tucker on Unsplash

FTX is REKT.

From crypto billionaire to zero in only two days, CEO of FTX SBF is under water.

With $1B worth of the second largest crypto exchange and leverage of $6B with its own crypto $FTT, it got rekt within two days.

The entire crypto space is under audit with a financial stress test, and it fails.

Binance has become an unstoppable crypto exchange, but regulations are coming sooner and later.

Crypto lacks transparency…

And on the other hand, Do Kwon is back!

Crypto exchanges are consolidating to push out fake balance sheet platforms and centralized crypto exchange is getting bigger for regulations to become more strictly enforced.

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