FTX's collapse wiped out $200 billion in the total value of the cryptocurrency market, and it hit retail investors in emerging economies the hardest
Cryptocurrency markets lost $200 billion in value in the wake of FTX's downfall in November, a newRetail investors in emerging markets were hit the hardest, according to the Bank for International Settlements , with participants in India, Pakistan, Thailand, Brazil, and Turkey impacted even more. Over 80% of retail participants using a crypto-trading app would have lost money from the market turmoil.
"The median investor would have lost $431 by December 2022, corresponding to almost half of their total $900 in funds invested since downloading the app," the report said."Notably, this share is even higher in several emerging market economies like Brazil, India, Pakistan, Thailand and Turkey. If investors continued to invest at a monthly frequency, over four fifths of users would have lost money.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Retail Crypto Investors in Emerging Economies Hit Hardest by FTX, Terra Collapses: BISWhile crypto app users worldwide lost money on their bitcoin holdings after last year's collapses of FTX_official and terra_money, investors outside of major economies took the biggest hit, a BIS_org report says. By camomileshumba and iamsandali
Les mer »
Former FTX exec will plead guilty to federal charges with a deal: ReportNishad Singh, the co-founder and former chief engineer of bankrupt cryptocurrency exchange FTX, is reported to be close a deal with federal prosecutors.
Les mer »
Crypto Hedge Fund Galois Shuts Down After Losing $40 Million to FTX: FTCrypto hedge fund Galois_Capital is calling it quits after losing $40 million in FTX_Official's bankruptcy, according to a report. thesamreynolds reports.
Les mer »
Hedge fund closes operations after losing funds in FTX exchange: ReportGalois Capital co-founder Kevin Zhou apologized to investors and highlighted that the FTX situation made them unable to justify continuing the fund.
Les mer »