
FTX is facing a liquidity shortfall of up to $8 billion, according to Bloomberg
The chief executive of cryptocurrency exchange FTX, Sam Bankman-Fried, has told investors that without a cash injection the company would need to file for bankruptcy, Bloomberg reported on Thursday, citing sources.
According to a person with direct knowledge of the matter, Bankman-Fried informed investors during a conference call on Wednesday that his crypto exchange faced
a shortfall of up to $8 billion and needed $4 billion to remain solvent. The unnamed source explained that FTX is attempting to raise rescue financing in the form of debt or equity, or a combination of the two.
"I f***ed up," Bankman-Fried reportedly said, adding he would be "incredibly, unbelievably grateful" if investors could help. The call occurred before crypto exchange Binance abandoned its plans to acquire FTX.
Comment: Whilst money can and has been made in crypto, as the above story reveals, even as a short term investment it can be extremely risky and, overall, it seems to be a bridge to nowhere that will likely devour otherwise potentially useful resources. It's telling that the multipolar world in particular, but even compromised and controlled Western banking institutions, have been focusing on tangible and traditional assets, such as gold and fuel:
Comment: Considering Poliquin's job, we can reasonably assume that he would've received an experimental Covid injection in order to continue working under Canada's tyrannical lockdown policies, whether or not his collapse is related remains to be seen: 5th doctor to 'die suddenly' this summer in Canada, one 27 year old collapsed during triathlon