The recent FTX collapse has demonstrated the shortfalls of third parties. Successful businesses in the future will incorporate multisig into their operations.
Genesis needs a $1 billion liquidity injection by Monday and Gemini sees significant bitcoin outflows as fears of insolvency spread throughout the industry.
A report cites a restructuring deck where Babel details unhedged ‘risky’ trading practices leading to mass liquidations which require massive debt to recover.
