The FTX drama continues as the deal with its competitor Binance falls apart. According to several reports, employees at the platform are fleeing amid growing concerns about a massive $6 billion hole on the company’s balance sheet.
A report from Semafor indicates that FTX’s legal and compliance staff left en masse as the company announced its deal with Binance. The report cites people familiar with the matter speculating on the company’s hurdles to completing any agreement without a legal staff.
FTX’s Team Goes Silence, Employees Keep Faith In CEO
Across social media, users began reporting that websites related to FTX and its trading arm Alameda were close. In addition, top executives went silent, seemingly escaping from what appears as the collapse of another major crypto institution.
FTX’s insolvency caught institutions and big players by surprise. The company saw many top representatives quitting their positions over the past months as U.S. regulators launched an invest
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