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FTX Needs $8 Billion Emergency Funding, Bankman-Fried Tells Investors

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.

The call with investors Wednesday came around the same time rival crypto exchange Binance said it was planning to walk away from its short-lived plan to acquire FTX.

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