MarketWatch: Understanding the FTX Debacle

[Cat9MixCloud]

Everything Is Fine, Fine, Fine: Sam Bankman-Fried Deletes Incriminating Tweet

The “best of” coins and tokens are recovering nicely today on yesterday’s disastrous news. I am surprised: On Tuesday, Binance signed a letter of intent to purchase its troubled competitor, FTX, in what appeared to be a potential bailout of the latter amid a liquidity crunch. But just a bit over 24 hours later, that plan crumbled. Binance backed out after reviewing the company’s structure and books, it said in a statement to the Wall Street Journal. “Our hope was to be able to support FTX’s…