Blackrock CEO Larry Fink Says FTX Failed Due To FTT Token – Crypto News – Crypto News
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Blackrock CEO Larry Fink Says FTX Failed Due To FTT Token – Crypto News

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FTX News: Asset manager Blackrock is one of the big names associated with investments in the bankrupt crypto exchange. ftx, In a latest, Larry Fink, the chairman and CEO of BlackRock, made some interesting comments on the Sam Bankman-Fried crypto empire collapse. He said Blackrock had a $24 million investment in FTX, which filed for bankruptcy earlier in November. The crypto exchange faced a significant liquidity crunch linked to alleged diversion of user funds to other companies owned by Sam Bankman-Fried,

“FTX failed because it created its own token.”

Also Read: FTX US Users Will Get 100% Of Their Money Back, Says SBF

Will SBF Go To Jail?

As FTX steers through the bankruptcy proceedings, ongoing investigations are focusing on whether the user funds are mishandled. Meanwhile, a section of the crypto community is wondering as to how SBF is roaming around freely after allegedly committing fraud. Many investors are wondering when SBF will be arrested. The US Securities and Exchanges Commission (SEC) is looking into potential diversion of funds from FTX US users.

Also Read: FTX Collapse Should Not Be Considered As Failure Of Crypto: EU Deputy Director General

Anvesh reports major developments around crypto adoption and trading opportunities. Having been associated with the industry since 2016, he is now a strong advocate of decentralized technologies. Anvesh is currently based in India. Follow Anvesh on Twitter at @AnveshReddyBTC and reach him out at [email protected]

The content presented may include the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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