The ripple effects of FTX’s collapse continue to make waves in the crypto space, with Genesis Trading reportedly warning that it may be facing bankruptcy. Meanwhile, FTX itself has revealed that it owes over $3 billion to its 50 largest creditors, while the Bank of England’s Deputy Governor weighed in on the crypto exchange’s collapse, warning of the “extreme risk” presented by unbacked exchange tokens like FTX’s FTT.
Are you a web3 / crypto / blockchain startup? Applications to Wharton’s Cypher Accelerator are now open. Apply to the Fortis cohort by December 15th. Cypher leverages Wharton’s world-class resources to scale startups in the blockchain space.
