Suddenly collapsed! A 230 billion virtual currency giant went bankrupt, and hackers stole 7 billion in funds? 2022/11/14 08:14 "Big Earthquake" in the virtual currency market.
FTX's bankruptcy became a major black swan event over the weekend. After the news was disclosed, virtual currencies suffered another sharp drop, with Bitcoin falling directly below the integer of $17,000, a weekly drop of more than 26%, and a cumulative drop of 75.8% compared to the highest point, which has been halved for the second time.
To make matters worse, on the day of bankruptcy, FTX was also attacked by hackers, and more than $1 billion of customer funds disappeared. Currently, a wave of layoffs is sweeping the United States.
The latest news said that two US giants, GlobalFoundries and Disney, have announced layoffs, hiring freezes and other measures; previously, US technology giants: Facebook's parent company Meta, Twitter, Amazon and others have also announced layoffs or hiring freezes.
It is worth noting that this wave of layoffs has begun to affect Wall Street, with giants such as Barclays, Citigroup, and Goldman Sachs joining the latest list of companies that are laying off employees. The continued outbreak of avian influenza in Europe has also become one of the risks that the market is worried about.
On November 10, local time, the French Ministry of Agriculture announced that it would raise the risk level of avian influenza from "intermediate" to "high". This dangerous avian influenza epidemic is impacting the European food supply chain, and some countries have already experienced an egg supply crisis.
The sudden crash caused a "big earthquake" in the virtual currency market. On November 11, local time, Sam Bankman-Freed (hereinafter referred to as "Bankman"), the founder of the cryptocurrency exchange FTX, announced on social media that the FTX Group has initiated bankruptcy reorganization procedures in the United States.
Under U.S. law, companies that file for bankruptcy can continue to operate while developing a debt repayment plan. Currently, the exchange has suspended cryptocurrency withdrawals.
The FTX crisis continues to impact confidence in the global virtual currency market. After the news of its bankruptcy and reorganization was released, virtual currencies suffered another sharp drop. Bitcoin fell by more than 5% at one point and fell below the integer of $17,000. As of press time, the price of Bitcoin was $16,646, and the weekly decline widened to 26%. Compared with the highest point (US$68,925), the cumulative decline reached 75.8%, which has been halved for the second time.
In addition, according to BTC123 data, within 24 hours after FTX announced bankruptcy, more than 100,000 investors in the virtual currency market had their positions liquidated. It should be noted that FTX is a digital asset derivatives exchange that plays a vital role in the virtual currency market. Investors can trade Bitcoin, Ethereum and other cryptocurrencies, as well as related derivatives on the platform.
At the same time, the FTX exchange is highly sought after by investment institutions. Venture capital giants including Sequoia Capital, SoftBank, Paladin, Tiger Global Fund, etc. have all participated in FTX financing. As of January 31 this year, FTX's post-investment valuation has reached US$32 billion (approximately RMB 230 billion).
The FTX Group includes a number of companies including the world-renowned cryptocurrency exchange FTX and the crypto quantitative trading company Alameda Research.
According to court documents, FTX Group's hedge fund Alameda Research listed asset and liability valuations ranging from $10 billion to $50 billion, which would make it the largest cryptocurrency-related bankruptcy case ever.
After FTX declared bankruptcy, it encountered a series of "outrageous" events.
On the day of bankruptcy, FTX was hacked. According to the blockchain analysis platform NANSEN, FTX suffered a mysterious outflow of $662 million. FTX said it was investigating the situation and asked investors to stay away from FTX's website.#Babymarvin合约地址f9c7值得拥有 
