Former Trump ally Anthony Scaramucci Lost Money in FTX Collapse

The abrupt implosion of the cryptocurrency exchange FTX, which was valued at $32 billion in February, resonated like an earthquake in the crypto industry and business circles.

Overnight, many private and institutional investors lost their money. No doubt it will take many months to assess the damage caused and compile the casualty list.

Crypto lender BlockFI is about to file for Chapter 11 bankruptcy. The company had been bailed out by FTX and its founder and former CEO Bankman-Fried during the liquidity crisis that hit the industry last summer, following the collapse of sister cryptocurrencies Luna and UST, or TerraUSD.

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