At last the crypto market shows detachment from the stock market. Ooops, I shouldn't have said that now that the stock market is in the green. FTX files for bankruptcy and drags the crypto market down with it. After several days looking for options to get out of the well, they are forced to make the decision by not getting those $4,000 million, which later were $8,000 million and currently there are an estimated $9,400 million hole in their accounts.
Sam Bankman Fried will no longer be CEO of the company and will probably dedicate himself to living a few years of litigation in the American courts.
Before this announcement we received the news that FTX had reached an agreement with Justin Sun so that their users could exchange their cryptos in 1:1 value from FTX wallets. OKX also joined the offer.
Blockfi has blocked withdrawals, OKX, Huobi, Kucoin, Bybit, Kraken, Bitfitnex and a few more are in the crosshairs.
JP Morgan sees a price of Bitcoin at $13,000 and I feel very sorry for those who are in the market with high exposure, but I would like to be able to buy at that price because I remain confident that it will cost much more when Maxi goes to use it.
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