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Will FTX collapse be a reason for tightening regulatory scrutiny of cryptocurrencies?

The U.S. Securities and Exchange Commission (SEC) and other regulators may see the collapse of FTX as justification for tightening regulatory scrutiny of cryptocurrencies, and Congress may be more inclined to step in and create new laws governing digital tokens and exchanges. 21

What is FTX exchange?

FTX Exchange was a leading centralized cryptocurrency exchange, the world's third-largest in July 2021, specializing in derivatives and leveraged products.

Why did FTX take a cut?

FTX’s regulated exchange offered that service, and the company took a cut of every transaction, but the big bucks were in the much more aggressive trading on the international exchange, where traders would try to profit from swings in the prices of crypto assets, borrowing money to increase their potential earnings (or losses).

Did FTX steal $473 million of cryptoassets?

(FTX/Reuters) A separate blockchain analytics firm Elliptic said that around $473 million US worth of cryptoassets were "moved out of FTX wallets in suspicious circumstances early this morning," but that it could not confirm that the tokens had been stolen.

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