What FTX’s collapse means for crypto
Behind the Money
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FTX and Cryptocurrency Collapse
The notion that crypto is decentralized is just farcical. This industry was already incredibly centralized. It's becoming even more centralized on a small group of not always terribly transparent individuals. And ironically, one of the people who was seen as absolutely central to the financial functioning of this market until very recently was Sam Bankman Freed. The coins can fall very, very fast and it looks like they can effectively take down an organization with them.
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