FTX contagion: FTX tapped into client accounts to fund risky bets…The SEC is investigating… BinNace not Buying FTX…

NOW TETHER IS THE ONLY LARGE FRAUD LEFT IN CRYPTO $USDT

— GURGAVIN (@gurgavin) November 10, 2022

Crypto markets face weeks of deleveraging in the fallout from the crisis at digital-asset exchange FTX.com. A “cascade of margin calls” is likely underway given the interplay between the exchange, its sister trading house Alameda Research and the rest of the crypto ecosystem.

HEARING CHATTER THAT FTX USED CLIENT FUNDS TO TRADE STOCKS AND LOST BILLIONS DOING SO.

— GURGAVIN (@gurgavin) November 9, 2022

IMO FTX WILL FILE FOR BANKRUPTCY SOON UNLESS THEY GET BAILOUT OUT.

— GURGAVIN (@gurgavin) November 9, 2022

OTHER BLOOMBERG ESTIMATES ON SAM BANKMAN

FTX $1 SINGLE DOLLAR
ALMEDA $1 SINGLE DOLLAR
FTX US $1.1 BILLION

PERSOANL DEBT $650 MILLION

— GURGAVIN (@gurgavin) November 9, 2022

THE US IS PROBING FTX'S HANDLING OF CLIENT FUNDS AND LENDING.

— Breaking Market News ⚡️ (@financialjuice) November 9, 2022

BREAKING: The SEC is investigating FTX.

— unusual_whales (@unusual_whales) November 9, 2022

In the beginning, our hope was to be able to support FTX’s customers to provide liquidity, but the issues are beyond our control or ability to help.

— Binance (@binance) November 9, 2022

As regulatory frameworks are developed and as the industry continues to evolve toward greater decentralization, the ecosystem will grow stronger.

— Binance (@binance) November 9, 2022

BREAKING: FTX needs $8 billion to meet shortfall.

what the actual

— Bankmanless (@BanklessHQ) November 9, 2022

Liquidated long on ETHUSDT: Sell 10,000,000 @ 1174.1 💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯

— REKT (@BXRekt) November 9, 2022

JUST IN: FTX tapped into client accounts to fund risky bets, per WSJ.

— unusual_whales (@unusual_whales) November 10, 2022

Watching crypto is like a month by month reminder of why modern banking & securities regulation exists.

— Duncan Weldon (@DuncanWeldon) November 9, 2022

[DB] Tether Begins Freezing FTX USDT at the Request of Law Enforcement While Investigations Occur: Tether Exec

— db (@tier10k) November 10, 2022

Funding overview pic.twitter.com/wZP6If6OtK

— Frank Chaparro (@fintechfrank) November 9, 2022

h/t jlee2027