On the most basic level, FTX fell prey to the equivalent of a bank run—its customers lost confidence in it, and got worried about the security of their assets, andraced to withdraw them. This was obviously very bad for FTX’s business, since the value of the company depends on people ...
The fall of the FTX crypto exchange forced many to reconsider their overall approach to investments — starting from self-custody to verifying the on-chain existence of funds. This shift in approach was driven primarily by the lack of trust crypto investors have in the entrepreneurs after being ...
If the bankruptcy of FTX wasn’t bad enough for those who had invested in the exchange, worse was to come. Late on Nov. 11, rumors began to spread through cryptoTwitterthat something suspicious was happening with FTX.Blockchain recordsshowed thathundreds of millions of dollarswere being yanked...
of the community that believes crypto should stand for decentralization, the merging of two of the world’s largest exchanges will also be cause for concern. decentralization is all about the even distribution of power and eliminating single points of failure, but the fall of ftx supports neither...
The fall of FTX marks one of the most serious problems for crypto to date, with questions now rising about the health of other giants of the industry. Sun, Dec 18 20226:36 PM EST Ryan Browne The crypto industry has been rocked by the collapse of FTX. Big-name investors from Sequoia Ca...
The fall of crypto exchange FTX appears to have already begun to impact the hundreds of grant recipients across a variety of philanthropic organizations backed by the exchange. During the COVID-19 pandemic, FTX founder Sam Bankman-Fried became known for backing a number of causes aimed at “hum...
Other major exchanges have also been affected by the fall of FTX: BlockFifroze withdrawals, as did Gemini’s third-party lending partner,Genesis Global Capital. Crypto.com alsofroze withdrawalsof the stablecoinsUSDCandTether (USDT), the values of which are based on the US dollar. Coinbaselaid...
Here's what you need to know about the collapse of FTX and what it means for the future of cryptocurrency: Why FTX collapsed The fall of FTX centers in part on the cryptocurrency exchange's close relationship with Alameda Research, a crypto hedge fund a...
What's in Tablo's watch history? NewJeans, AI, and the fall of FTX.'My content needs to be as honest as I can be. I always have people around me asking, 'Will they get it, though?' Of course they'll get it — they are alive, aren't they?'...
But a token launch would have been risky, as the Securities and Exchange Commission has repeatedly argued that the vast majority of cryptocurrencies are unregistered securities. After the fall of FTX in November 2022, the SEC initiated a broad campaign against crypto and reached settlements with or...