FTX is crypto’s Lehman Bros. moment. What happens now?
Unlike the 2008 crash, the government won’t be bailing out FTX’s investors, writes Nick Saponaro of Divi Labs. Will regulators see this as a cue to crack down on exchanges?
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Nick Saponaro is the Los Angeles-based CEO of Divi Labs, developers of a decentralized crypto financial services platform. Nick started investing in cryptocurrencies in 2013, but his crypto career began straight out of high school when he started a custom PC business that built rigs for gaming and Bitcoin mining. He joined Divi in 2017 as a full-stack developer and was invited to become a cofounder. In 2019 he became Divi’s chief information officer, and in 2021 he was promoted to CEO.