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other binance is officially walked away from buying FTX FTX is on the verge of bankruptcy ftxamp;#39;s books were so jacked up that binance was like nah you know what we donamp;#39;t want to touch this but how bad was it well apparently FTX has an 8 billion dollar hole in their balance sheet but how did this happen to the second largest cryptocurrency Exchange in the world well it seems like the founder of FTX Sam bankman freed was doing some sketchy Sam loaned out 10 billion dollars of FTX customer deposits to his other company his other company was a crypto hedge fund called Alameda research Alameda research decided to use that 10 billion dollars and make some high-risk d-gen trades and ended up losing all that money so essentially Sam gambled his customers deposits to make some insanely high-risk trades and lost so when these rumors started flying and everybody decided to withdraw their money from FTX they didnamp;#39;t have it and thatamp;#39;s why they had to Halt withdrawals
