.MustStopMurad believes that there is a silver lining to the FTX implosion
that the headline-grabbing implosion of the FTX exchange might actually make the ongoing bear market shorter. published by The Economist argues that the cryptocurrency industry might not be able to survive after its reputation suffered a catastrophic blow. It argues that crypto has never looked so “criminal, wasteful, and useless.”
Meanwhile, a recent Financial Times article makes a case against creating a legitimacy-inferring cryptocurrency regulation framework since crypto has to simply burn into oblivion after the FTX collapse. While Mahmudov’s recent comment might be easily dismissed as wishful thinking, JPMorgan analysts offered a rather similar view in their recent note. The largest U.S.
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The Fall of Crypto's Golden Boy - The Journal. - WSJ PodcastsUntil last week, FTX founder Sam Bankman-Fried was the face of crypto. Admirers saw him as an approachable, friendly billionaire eager to deploy his wealth for good. Then his crypto empire imploded, leaving hundreds of thousands of investors’ assets in doubt. WSJ’s Greg Zuckerman profiles the man behind FTX. Further Reading: -How FTX’s Sam Bankman-Fried Went From Crypto Golden Boy to Villain -FTX Tapped Into Customer Accounts to Fund Risky Bets, Setting Up Its Downfall -Alameda, FTX Executives Are Said to Have Known FTX Was Using Customer Funds -FTX’s Collapse Leaves Employees Sick With Anger Further Listening: -How Crypto Giant FTX Suddenly Imploded
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