Crypto Billionaire Says More Platforms Will Fail
— Worth thinking, Key pointsprominent crypto billionaire, Iceberg, Decentralized finance, Offers listed, Good times, Industry, Reasons like, Alameda research, Crash — 1 min read
FTX's Sam Bankman-Fried warns that some exchanges are secretly insolvent. FTX has already stepped in to help two beleaguered crypto lenders. Now is a good time to consider moving assets to a private crypto wallet that you control. If you have money on a DeFi platform or crypto exchange, be aware that you might lose it if that platform fails. If more crypto lenders and exchanges fail, it will have a negative impact on prices. It could also cause further decentralized finance dominos to fall as there is a lot of interconnectedness in the market. For example, Coinbase already warned that customer funds could be at risk if it went bankrupt. For more information, visit www.fxxnews.com. Source