Anthony Scaramucci, Former Trump Ally, Lost Money in FTX Collapse

The sudden implosion of the FTX cryptocurrency exchange, valued at $32 billion in February, resonated like an earthquake in the crypto industry and business circles.

Overnight, many retail and institutional investors lost money. It will certainly take months to assess the damage caused and draw up a list of casualties.

Crypto lender BlockFI going to propose for Chapter 11 bankruptcy. The company has been bailed out by FTX and the founder and former CEO Bankman-Fried during liquidity crisis that affected the sector last summer, after the collapse of sister cryptocurrencies Luna and UST, or TerraUSD.

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