Opinion: Why FTX collapse might be the end of the beginning for crypto

Nov 22, 2022

While investors like the Ontario Teacher’s Pension Plan and Temasek write off their investments in FTX, the recent downfall of centralised crypto exchanges may actually serve as the purge the industry needs.

Opinion: Why FTX collapse might be the end of the beginning for crypto

In November 2022, cryptocurrency exchange FTX collapsed over a period of roughly 10 days. Following a report by Coindesk that suggested potential leverage and solvency concerns, the exchange faced a run on its FTT token that led to a liquidity crisis. There was also an attempt to negotiate a bailout from rival exchange Binance that quickly fell through.

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