SBF told Forbes in June ‘22 that some third tier exchanges are already insolvent. We are far from bottom if the FTX fall triggers a cascade effect

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yup, to watch this play out will be crazy!

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makes sense, I don't think CeFi will go away but hopefully it doesn't bring down DeFi with it. 

In reality, everyone takes a hit bc of consumer sentiment.

Defi maxies taking victory laps right now