Business Standard

Crypto meltdown

FTX underlines the risk of unregulated markets

Cryptocurrency
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Photo: Reuters

Business Standard Editorial Comment
The meltdown of the FTX cryptocurrency exchange has set some sort of record in terms of sheer speed. It may put more pressure on an already bearish cryptocurrency market. A week or so ago, the founder of FTX, Sam Bankman-Fried (SBF), was reckoned to be worth several billion due to his holdings in FTX and in crypto hedge fund Alameda Research. In the wake of the bankruptcy, SBF’s fortune has just evaporated and he may also be criminally liable. In January this year, FTX had over a million registered users. It was the second-largest crypto-trading exchange trading billions of dollars

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First Published: Nov 14 2022 | 10:38 PM IST

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