Crypto Bank Run at FTX & Alameda Research

A November 2nd story at Coindesk exposed that Alameda Research, the trading arm of Sam Bankman-Fried's crypto empire owes $8 billion collateralized almost entirely by illiquid assets like FTX Token (FTT) and Solana. Now Chenpeng Zhao, the CEO of Binance has announced the he's going to be unloading all of his FTT because of this story and it looks like a bank run has started as customers withdraw their cash and coins from the FTX exchange. Are FTX and Alamdea the next dominoes to fall in the 2022 crypto route?

Support the Channel on Patreon: https://www.patreon.com/NobodySpecialFinance
Join My Discord for More Discussion, Q&A, and News: https://discord.gg/njvf3DPPrF

Affiliate Links:

Use this link to get $10 in free Bitcoin with Swan: https://www.swanbitcoin.com/NobodySpecial/

The Ledger Nano X: My favorite Hardware Wallet for Cold Storage of Crypto Assets: https://shop.ledger.com/?r=23974ce6def9

Recomended reading (Amazon Affiliate links):
Rich Dad Poor Dad by Robert Kiyosaki: https://amzn.to/3rJvA7Y

Follow me on Twitter: https://twitter.com/JG_Nuke
Follow me on Gettr: https://gettr.com/user/nobody_special_
Follow me on Gab: https://gab.com/NobodySpecialFinance
Follow me on Reddit: https://www.reddit.com/user/JG-NUKE

#FTXToken #Solana #FTX #MelonHead