The FTX empire has been reduced to ruins. The SBF effect is on the brink of turning the map of the crypto world into ruins.
BlockFi is ending.
Crypto lender firm BlockFi has stopped all withdrawals as it is dependent on credit provided by FTX since it falls victim to state fines. Now when FTX Group goes bankrupt, BlockFi will also be insolvent, although a formal announcement has yet to be made.
Robinhood is in Danger.
SBF holds 7.6% of Robinhood's shares, making it the company's largest shareholder. SBF tried to sell it in the Signal app. This has put Robinhood's shares at risk. CEO Vlad is depending on... But
Voyager Digital for Resale
Voyager Digital, which went bankrupt and was acquired by FTX and Alameda Research, is now waiting for a new buyer, which is now hard to get.
The Serum Project
Just now, Serum DeFi, whose co-founder is SBF, has come out, and it is being forked by the FTX group for misusing it, but they are also dependent on FTX, so other platforms have started leaving it.