FTX Bailed Out for $1.4 Billion

FTX was valued at $32 billion in the most recent raise. It has come out that Alameda had a lot of FTT on their balance sheet, and they were leveraged against it. This meant that if there was a decline in the price of FTT, then they would get liquidated on those loans. CZ saw the blood in the water, had a shit-ton of FTT... Well, before he tweets out, whale alerts picks up that as FTT is moving, which can make it more difficult for these chains to run.