Share to Twitter Share to Linkedin The FTX bankruptcy on November 11 shocked the crypto market wiping out FTX's $34 billion valuation overnight with investors like Sequoia and Softbank writing their investments in FTX down to zero. Market contagion is spreading with BlockFi the latest casualty filing for bankruptcy earlier this week and Coinbase’s debt trading at near distressed levels. FTX was reported to have been $8 billion short of fulfilling customer requests for their money just 2 days before the bankruptcy and estimates vary about how much customer money is locked up in the bankruptcy. There is an estimated $10 billion shortfall of funds with FTX owing $3 billion to creditors. Customers, who are unsecured creditors, are at the back of the line and are unlikely to see their money. John Ray , the specialist that led Enron’s wind down was appointed to run the FTX bankruptcy said he had never seen “such a complete failure of corporate controls and … [Read more...] about Polyamory, Denial, And Recriminations: Rebuilding Trust In Crypto After FTX