FTX is still struggling, and the institutions that were unlucky because of FTX probably haven’t been fully exposed yet.

In addition, some mortgage assets in the DeFi ecosystem became insolvent and were liquidated. The liquidation and selling process triggered further declines in mainstream digital assets, which also caused more assets to be liquidated due to insolvency.

What follows may be a series of liquidations of digital assets and prices entering a death spiral.

Gate has also started a cash withdrawal frenzy. Maybe which institution will explode again?