Saturday, July 13, 2024

SBF and Alameda intervene to prevent the spread of crypto collapse.

Alameda and SBF are combining forces to stop the spread of crypto contagion. In addition to that, SBF also called out the rumors suspecting that Alameda had something to do with the stability crisis of Celsius. SBF claims that such news is completely false. According to SBF, Alameda is only looking for the best for the crypto community at large.

Steering through the Bearish Market

The Bearish trend in the 2022 market so far is causing liquidity issues (ranging in severity) in many companies. Big digital asset players like 3AC (Three Arrows Capital) and Celsius are apparently on the brink of insolvency. The worst part is, if these two major crypto firms fall, they will take some other players down with them.

In an interview on Sunday with NPR, SBF commented that firms like FTX and Alameda have a responsibility towards the crypto sector. These companies are huge. And with great power comes great responsibility. SBF believes that the companies should step in to help even if they are not responsible for the contagion spread.

Firms Should Unite Against the Contagion

Companies coming together to help the entire sector is not a new phenomenon. In 2021 for instance, FTX provided $120 million in finances to Liquid, a Japanese digital asset exchange.

In a recent announcement, Alameda is giving a coin loan of $200 million to Voyager Digital, a crypto brokerage. In addition to this, Alameda is also providing 15,000 BTC valued at $298.9 million at the current rate.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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