Crypto's day of reckoning is here.
this week, BlockFi admitted that it had "significant exposure" to both FTX and its sister firm Alameda.
"There are a number of scenarios that may be available to us, and we are doing the work now to determine the best path forward," the post reads. "BlockFi has the necessary liquidity to explore all options and we have engaged expert outside advisors that are helping us navigate BlockFi’s next steps." In short, it's not looking good for BlockFi, especially considering it was FTX that rescued BlockFi from collapse as the cryptocurrency community was still reeling from an impending crisis.
Months later, that crisis has only grown — and an increasing number of players are having to answer some difficult questions.
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