Leading Crypto Exchange Needs $8 Billion to Stave Off Bankruptcy



A formerly leading digital currency exchange is in such dire straits that it needs an $8 billion cash infusion or it faces imminent bankruptcy, sources claim.

At the heart of a debacle that caused Bitcoin and Ethereum, the two leading digital currencies, to devalue by as much as 30 percent in just two days, is the FTX exchange, its CEO and founder Sam Bankman-Fried, and his trading firm Alameda Research.