Sam Bankman-Fried: Some Third-Tier Exchanges Are Already Secretly Insolvent

Sam Bankman Fried denies any active merger talks with Robinhood but tells Forbes that more crypto exchange failures are coming. “There are some third-tier exchanges that are already secretly insolvent,” says Bankman Fried.

Bankman Fried is worried about continued failures because during the euphoria of rising crypto prices, exchanges kept upping the ante to attract customers with generous yields for deposits.

[Via]

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