ThankQ for the info!
Did the hack cause the collapse?
IIRC there was a huge leverage.
From the article:
“
On Friday, the Bahamas-based FTX was forced to file for bankruptcy after $473 million of its funds were stolen in a hack of the cryptocurrency exchange.
Customers rushed to withdraw their funds, but it was too late.”
No, Binance withdrawing their offer and tweeting about FTX’s questionable books is what triggered the collapse. People are now speculating that the so-called “hack” was actually SBF stealing the remaining funds. Remains to be seen.
1 Trump-Hater Anthony Scaramucci Was Nose-Deep in FTX
https://twitter.com/TheWuhanClan/status/1591303167060361216
2 Now-Collapsed FTX Crypto Slush Fund Laundered Ukraine Donation Money to Democrat Candidates to Help Rig Midterms