Money For the Rest of Us cover image

Is Cryptocurrency Dead? Will the FTX Fallout Kill Crypto?

Money For the Rest of Us

CHAPTER

Is FTX Worthless?

FTX founder Sam Mankman-Free said he planned to run his firm with little oversight and that investors should just support him. Save FTX invested $500 million in FTX as early as 2022. Valued the company $32 billion. Now it's essentially worthless. Don't keep cryptocurrency on an exchange if it's a meaningful amount of money because you're completely unprotected if the brokerage goes bankrupt.

00:00
Transcript
Play full episode

Remember Everything You Learn from Podcasts

Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.
App store bannerPlay store banner