Solana Collapses in FTX Scandal

TL;DR

Serum (CRYPTO: SRM), a decentralized exchange software built in the Solana (CRYPTO: SOL) ecosystem, may have been compromised when the hacking of bankrupt FTX occurred on Saturday.As a result, more than $600 million in cryptocurrency vanished from the FBankrupt crypto exchange FTX’s founder Sam Bankman-Fried has been interviewed by police and regulators in the Bahamas.However, the commission said in a statement that it hadn’t “directed, authorized or suggested” the prioritization of local withdrawals by FTX Digital Markets Ltd.A stronger-than-expected showing by Democrats in the U.S. midterm elections may force investors to rethink the split government scenario many had expected.(Bloomberg) -- Sam Bankman-Fried’s FTX Trading exchange held $900 million in liquid assets against $9 billion of liabilities the day before Friday’s bankruptcy filing, the Financial Times reported Saturday, citing investment materials the newspaper had seen.Most Read from BloombergFTX Latest: Dim Picture for Customers; Criminal Probe Possible‘It’s All Gone’: FTX Bankruptcy Has Retail Traders Bracing for LossesChina Plans Property Rescue as Xi Surprises With Policy ShiftsDemocrats Defy History, KStocks rallied last week, with the S&P 500 surging 5.9%."

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