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MASSIVE NEWS FOR BITCOIN! RECORD NUMBERS IN THE LAST 24 HOURS!There are �some third-tier exchanges that are already secretly insolvent,� Bankman-Fried told Forbes. The year-old's own fortune has taken a. The FTX CEO warned of third-tier exchanges that are yet to reveal their insolvency and of mining firms suffering from excessive leverage. FTX CEO Sam Bankman-Fried said we'll see more failed crypto exchanges. The billionaire told Forbes that some are already "secretly insolvent".