Crypto trading and lending firm Genesis Trading reported losses of around $7 million "across all counterparties" that include Alameda Research after it hedged and sold collateral on Tuesday in anticipation of market volatility following a liquidity crunch at FTX.

SOL’s funding rates sharply dropped as low as -4% on Wednesday in anticipation of the unlock

Sam Bankman-Fried told FTX.com investors on Wednesday that without a cash injection, the company would need to file for bankruptcy, according to a person with direct knowledge of the matter.

FTX chief Sam Bankman-Fried told investors he needs emergency funding to cover a shortfall of up to $8 billion due to withdrawal requests received in recent days, according to people familiar with the matter.

Cash-strapped crypto exchange FTX has added a new warning to customers in the form of a bright red banner on its FTX.com website today, warning customers that the exchange has halted withdrawals.

Binance, the world’s largest crypto exchange, has backed out of its agreement to purchase FTX just one day after signing an agreement to rescue the company on Tuesday.

Crypto markets continued to fall Wednesday, with news that Binance won't buy FTX, fueling additional declines as U.S. equities markets closed.

Sam Bankman-Fried no longer ranks in the top 500 on Bloomberg’s billionaire index, but CZ remains at rank 87.

Starting a company in your 20s is one thing, but raising millions in seed funding as a university student is a different ballgame altogether.

By Parikshit Mishra