#FTX, Sam Bankman-Fried’s #crypto empire, is on the verge of collapse. ⁠ ⁠ Facing a #liquidity crunch, Bankman-Fried earlier this week was scrambling to raise money from venture capitalists and other investors, according to sources with knowledge of the matter. #Binance initially agreed to step in and acquire FTX, but the company quickly changed course, citing reports of “mishandled customer funds and alleged U.S. agency investigations.”⁠ ⁠ Full details on the FTX fallout at the #linkinbio. #CNBC #cryptocurrency