tldr; BlockFi filed for Chapter 11 bankruptcy with $250 million in assets relative to $10 billion in liabilities. BlockFi used FTX’s platform to trade crypto and had up to $355 million in crypto assets “trapped” due to FTX’s bankruptcy. FTX provided BlockFi with a $400 million line of credit to avoid bankruptcy in exchange for an option to acquire the firm at some point in future.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
I think you’re giving SBF way too much credit. The anecdotal evidence would suggest that SBF got a thrill from playing the savior and flaunting his success by buying out/assimilating/rescuing competitors to FTX.
On the other hand, consider Binance and CZ’s actions leading up to the collapse of FTX… I’m not making any accusations but merely stating my opinion that CZ has the calculating intelligence required to play such Machiavellian games whereas SBF seemingly does not.
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FTX simply made it look like they bail out BlockFi and used their funds
To gamble further…
I doubt it, not like they intended FTT to plummet to nothing
tldr; BlockFi filed for Chapter 11 bankruptcy with $250 million in assets relative to $10 billion in liabilities. BlockFi used FTX’s platform to trade crypto and had up to $355 million in crypto assets “trapped” due to FTX’s bankruptcy. FTX provided BlockFi with a $400 million line of credit to avoid bankruptcy in exchange for an option to acquire the firm at some point in future.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
Honestly, everything is possible with those scammers.
I think you’re giving SBF way too much credit. The anecdotal evidence would suggest that SBF got a thrill from playing the savior and flaunting his success by buying out/assimilating/rescuing competitors to FTX.
On the other hand, consider Binance and CZ’s actions leading up to the collapse of FTX… I’m not making any accusations but merely stating my opinion that CZ has the calculating intelligence required to play such Machiavellian games whereas SBF seemingly does not.
Maybe.
Guys it’s going to be ok – SBF is working really hard to get everyone’s money back!