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What does the collapse of ftx mean for cryptocurrency?

Here's what you need to know about the collapse of FTX and what it means for the future of cryptocurrency: The fall of FTX centers in part on the cryptocurrency exchange's close relationship with Alameda Research, a crypto hedge fund also founded by Bankman-Fried.

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.

Is FTX a risky investment?

A multi-billion dollar bank run on the world’s third-largest cryptocurrency exchange platform, FTX, is leading many to speculate the future of digital currencies and issue warnings of risky investments in unproven, loosely regulated markets.

What happened to FTX?

FTX was a centralized cryptocurrency exchange specializing in derivatives and leveraged products that filed for bankruptcy protection in the U.S. in November 2022. FTX's founder and former CEO was arrested in the Bahamas, extradited to the U.S. and released on a $250 bond in late December. He awaits trial on criminal charges in October.

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