A friend sent me this, this morning.
"About 130 additional companies affiliated with FTX -- including FTX US and Alameda Research -- have also begun the bankruptcy process"
I guess this is no big surprise. An Exchange worth $32 billion must have hundreds, if not thousands of affiliates. And they are all going to be affected in one way or another.
It says it right in the release that there are many companies involved, how does that change my statement above that "most of the deleveraging has likely already been done"?!
You think there is more pain to come? I personally think most of the deleveraging has already been done...
I think @sarahjay1 is right.
A friend sent me this, this morning.
"About 130 additional companies affiliated with FTX -- including FTX US and Alameda Research -- have also begun the bankruptcy process"
I guess this is no big surprise. An Exchange worth $32 billion must have hundreds, if not thousands of affiliates. And they are all going to be affected in one way or another.
Thanks.
I hope I'm wrong, but I do think the damage will have lasting consequences.
It clearly will have long lasting consequences, but in terms of outright dumping of crypto assets, I think we are through the majority of it already.
It says it right in the release that there are many companies involved, how does that change my statement above that "most of the deleveraging has likely already been done"?!