Tales from the crypto: An exchange implodes
The Intelligence from The Economist
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FTX's Fall from Grace
This chapter explores the dramatic downfall of FTX, a leading cryptocurrency exchange, amid fears of insolvency and a liquidity crisis. It details the competitive dynamics with Binance, including a failed acquisition attempt and the risky practices that led to FTX's financial instability. The collapse's repercussions on the broader crypto industry, investor confidence, and potential regulatory changes are also discussed.
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