FTX
Description
The biggest news coming from the crypto world over the last week has been the sudden implosion of FTX. This has sent aftershocks in the trillion dollar crypto industry which will have repercussions beyond just FTX. Regulators have already been calling to introduce regulations related to crypto and exchanges for a long time but this whole episode will only make their case stronger. Not only investor confidence in crypto has a hit new low but it has left people wondering what is next for crypto and exchanges.
The FTX meltdown started earlier this month when Binance put an announcement that they will be selling their holdings of FTT (native token of FTX) triggering a panic in the market. Binance then agreed a bailout for FTX but instantly withdrew their offer in 24 hours. Since then FTX has filed for bankruptcy.
Listen as the guys get into the details of all the news and takes on this FTX saga. What does it mean for regulations? What theories the crypto community has about the internal workings of FTX? And how this whole episode will further cause crypto prices to tank?