Sam Bankman-Fried is positioning himself as crypto's 'lender of last resort' - but even he reportedly couldn't deal with the $2 billion hole in Celsius' balance sheet
— Hole, Lending, Celsius, Bankmanfried, Lender, Reportedly, Resort, Cryptos, Bankruptcy, Positioning — 1 min read
FTX reportedly walked away from a deal to buy troubled crypto lender Celsius over the state of its balance sheet. FTX founder Sam Bankman-Fried has positioned himself as crypto's "lender of last resort" as the industry suffers a liquidity crunch. The FTX chief executive provided the struggling lending firm BlockFi with a $250 million loan last month, and attempted to bail out the Voyager Digital exchange before it declared bankruptcy this week. It's led some to compare the crypto billionaire to Warren Buffett, who bailed out Goldman Sachs during the 2008 financial crisis, or the banker J.P. Morgan, who built his influence by bailing out several major New York banks in 1907. The failed lending firm, which filed for Chapter 11 bankruptcy Source