LeadStory
FinanceStockmarketCrypto

Bloomberg

What killed FTX? Lessons in liquidity

Bloomberg ·
Bloomberg
Bloomberg

The liquidity crisis that hobbled Sam Bankman-Fried's empire was at its heart a crisis of confidence. A breakdown of trust that wasn't unique to him or the crypto world alone. Long-Term Capital Management in 1998, Lehman Brothers in 2008. Remember them? They each in one way or another fell victim to vanishing liquidity spurred by a breakdown of trust from their counterparties and clients.

SEE THE FULL STORY

Crypto Fallout

Leading platform FTX has filed for bankruptcy as crypto prices fall below 2017 prices.