FTX - What's Next?

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For FTX to go down is a real crisis of confidence for crypto. Almost all the big players in crypto used FTX in one way or another. There will be other hedge funds trading shops, lenders in the crypto world that will be scrambling to cope with the demise of FTX. Apple made $31 billion of operating profit in China alone last year. That ended up being double the combined global profit of $0.10 in Alibaba,. Patrick McGee and Ryan McMorrow talk about how this happened.

Digital asset exchanges are rushing to reassure clients that their funds are safe as the FTX collapse ricochets through the industry, a top Federal Reserve official says the US central bank is entering a new phase of policy tightening that will be harder to navigate, and Apple’s reliance on China leaves the business vulnerable to supply chain shocks.

Mentioned in this podcast:

Crypto exchanges race to soothe clients’ nerves after FTX collapse

Fed faces tough task deciding when to stop raising rates, official warns

Apple’s bargain with Beijing

The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.

Read a transcript of this episode on FT.com

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