The post After FTX & BlockFi, These Exchanges May Also Land in Deep Trouble! appeared first on Coinpedia Fintech News
As strong and well-established platforms are rumoured to be exposed to the FTX collapse, the contagion is just spreading out. Initially, Crypto.com was rumoured to go bankrupt but in a recent update BlockFi, a crypto trading platform filed for bankruptcy. BlockFi admitted to FTX exposure as it had provided a $400 million revolving credit facility to FTX and an option to buy the company for up to $240 million.
Hence, the platform halted customer withdrawals as they can no more run the business as usual. However, the FTX impact is speculated to be more intense which may drag the entire crypto space to steep lows that may take years to recover. The very next platform to be impacted is believed to be Crypto.com, despite the denial from the CEO.
However, it has to be noted that BlockFi also had denied earlier but admitted later.
Source: Reddit
The crypto verse is p
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