The Daily The Crypto Comeback
28 snips
May 21, 2024 
David Yaffe-Bellany, a technology reporter for The New York Times, dives into the surprising comeback of FTX and the crypto industry. He discusses how strategic investments helped FTX recover billions after its collapse, enabling repayments to customers. The conversation highlights growing optimism in cryptocurrency, especially with Bitcoin ETFs gaining traction among major institutions. Yaffe-Bellany also addresses the legal hurdles faced by the industry and explores the implications of cryptocurrencies becoming mainstream financial assets.
AI Snips
Chapters
Transcript
Episode notes
FTX’s Surprise Return
- FTX customers initially thought their money was gone forever.
- Surprisingly, bankruptcy professionals recovered assets, including profitable AI investments like Anthropic.
Crypto Comeback
- Sam Bankman-Fried's investment in Solana, a cryptocurrency, significantly increased in value after FTX's collapse.
- This surge, along with other crypto market improvements, contributed to FTX's ability to repay customers.
Bitcoin ETFs Go Mainstream
- A court case allowed Grayscale to offer a Bitcoin ETF, making Bitcoin investment easier and more accessible.
- This led to a surge in Bitcoin's value and mainstream adoption, attracting investors like BlackRock and Fidelity.