The so-called crypto winter isn’t over yet — and a number of cryptocurrency exchanges have already run out of cash, billionaire and founder of crypto exchange FTX Sam Bankman-Fried said on Tuesday. There are “some third-tier exchanges that are already secretly insolvent,” Bankman-Fried told Forbes. The 30-year-old’s own fortune has taken a significant cut this year as crypto has crashed, but still sits at $8.1 billion, according to Bloomberg. Bitcoin, the largest cryptocurrency by market value, lost 58% of its value in the second quarter of the year, putting it on pace for its worst quarterly performance since 2011. ... (full story)