# What a Day in Crypto

By [MO](https://paragraph.com/@mo-5) · 2022-11-10

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FTX is insolvent

Sam reached out to CZ for bailout after trying all options

CZ and Binance going into a deal to acquire FTX

Next day bail out of the deal

FTX in a deeper whole than the previous $2 billion thought

FTX needs over $8 billion to be ok

Only option is bankruptcy

Investors are toast.

Sosad

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*Originally published on [MO](https://paragraph.com/@mo-5/what-a-day-in-crypto)*