π₯Related parties being exposed in #FTX collapse π₯
It is estimated that the losses of many VC units and Market Maker have reached hundreds of millions of dollars.
Take a read π§΅π
#Tokflow#tokflowanalysis#FTXScandal#FTXScam#FTXbankruptcy
2/ @BlockFi: the company has announced it is suspending withdrawals, it is also in financial difficulties and is suspected of being on the verge of bankruptcy after lending more than $600 million to #FTX and #Alameda.
3/ Media pressure led to mass withdrawals, with #FTX and #Alameda forced to sell off assets (in an environment of weak liquidity) to make up for the shortfall. This causes a chain effect that leads to the end of #FTX.
2/ Alameda collateral used to borrow from #FTX includes $FTT, $SOL, $SRM, $FIDA, $OXY... However, these assets have very low liquidity compared to the size of Alameda's borrowed capital.
Many thanks to our friend from Philippines @GiuComia for such a detailed review video of #TokFlow
We've been receiving loads of positive feedback on our tool. Check it out ππ
https://t.co/esqQMpyPoz
What a crisis year with the market π₯Άπ₯Ά
Always remember: Say no to collateral and leverage if you don't understand it yet β
https://t.co/ZmLEw8w7vV