In today’s briefing:
- Why the FTX Collapse Is a Big Deal
Why the FTX Collapse Is a Big Deal
- FTX is one of the largest crypto exchanges in the world in terms of market capitalization – at one point it was second only to Binance. It is one of the biggest collapses the crypto ecosystem has seen
- FTX has a suite of big-name investors – including Temasek, SoftBank, Sequoia Capital, and BlackRock – that have poured US$1.8 billion into the exchange.
- FTX was the white knight that prevented its fellow crypto firms from dying. It was a savior who helped to stabilize the market.
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