Bitcoin and Ether rose on Wednesday morning in Asia amid reports of alleged Russian missile strikes on Poland while inflationary data out of the U.S. provided support.
The tokenization of property in DeFi differs greatly from the securitization that led to the global financial crisis. In this introductory part of a special series of three articles, Forkast looks at the origins of the phenomenon, what’s new about it, and the promise it holds for investors.
The failure of cryptocurrency exchange FTX has been compared to the Lehman Brothers collapse in 2008, but it may have more similarity to the bankruptcy of energy trading giant Enron Corp. – an event FTX’s new chief executive officer knows all too well.
A rise in Bitcoin prices is the most important factor for a significant increase in the number of new investors, instead of distrust in public institutions, dislike for traditional banks, or search for a store of value, according to a report by the Bank for International Settlements.
O’Leary remains committed to crypto even after losing his investment in FTX.com, but said that the industry will become more regulated.
The following is a running compilation of views and comments on the FTX bankruptcy and implications for the industry.
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?
Exchanges to the rescue? Cash is reportedly being made available to help blockchain and crypto projects caught in the fallout of the FTX exchange collapse.
Ethereum founder Vitalik Buterin is looking to develop a proof-of-reserves protocol and Binance may be the “guinea pig” and serve as its first test case, said Binance chief Changpeng Zhao.
The chief executive of Crypto.com, said the exchange’s exposure to FTX when it shut was under US$10 million.