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Establishments brief Bitcoin as SBF is ‘deeply sorry’ for FTX collapse By Cointelegraph

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Crypto Biz: Establishments brief Bitcoin as SBF is ‘deeply sorry’ for FTX collapse

The monumental collapse of FTX will go down as one of many greatest company scandals of all time. However, not less than Sam Bankman-Fried, or SBF, is sorry. On Nov. 22, the disgraced founding father of FTX penned a letter to his former workers describing his position within the firm’s chapter. “I by no means supposed this to occur,” he wrote. “I didn’t notice the complete extent of the margin place, nor did I notice the magnitude of the chance posed by a hyper-correlated crash.” Get this: SBF nonetheless thinks the corporate might be saved as a result of “there are billion of {dollars} of real curiosity from new buyers.” Shouldn’t he be preoccupied with attempting to keep away from jail proper now?

(BTC) and the broader crypto market have been reeling within the wake of the scandal. Whereas this has allowed many diamond handed hodlers to build up extra BTC on a budget, institutional buyers are utilizing this chance to brief the market. We might lastly get that ultimate capitulation to spherical out the present four-year cycle.

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Earlier than you go: May Grayscale set off the following Bitcoin worth collapse?