Crypto's self-proclaimed savior has tried to find a lifeline for his own

By Sakshi

 Nov 9,2022

It was a jaw-dropping, curse-out-loud-at-work kind of day in the crypto world, which, even on its best day, is a volatile and weird place.

Image Source and Credit  : Google 

This is the story: Cryptos were down all early this morning due to concerns about the stability of FTX The exchange platform created by Sam Bankman-Fried known as SBF. 

Image Source and Credit  : Google 

SBF is an entrepreneur whose name frequently appears in conjunction with descriptors such as "wunderkind," "savior," white knight, "digital Warren Buffett," etc. 

Image Source and Credit  : Google 

He's, in a nutshell, an internet-connected celebrity (and an entrepreneur of 30 years).

Image Source and Credit  : Google 

SBF did not comment on rumors of the liquidity of FTX the rival to it, Binance, said it will liquidate the $580 billion it held in FTX's internal token.

Image Source and Credit  : Google 

Then, in a shocking surprise, Binance said it had made an offer to buy FTX to address its liquidity issues.

Image Source and Credit  : Google 

"This afternoon, FTX asked for our help," tweeted Zhao "CZ" Changpeng, the CEO of Binance on Tuesday in response to the "significant liquidity crunch."

Image Source and Credit  : Google 

It's likely that no one knew the bombshell coming, considering the public rift and apparent conflict Between Bankman Fried and Zhao.

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"I'm actually shocked by this," an industry professional said to me. "FTX falling ... could be something like the Lehman Brothers event for the industry.

Image Source and Credit  : Google