Entire crypto sector faces reckoning after FTX collapse
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Sam Bankman-Fried, CEO of FTX U.S. Derivatives. (Tom Williams/CQ-Roll Call, Inc via Getty Images)
Entire crypto sector faces reckoning after FTX collapse
Zachary Halaschak November 22, 06:30 AM November 22, 06:30 AM
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T he spectacular collapse of the crypto exchange FTX sent ripples throughout the world of finance in what appears to be a reckoning for the future of cryptocurrency.
FTX was one of the biggest cryptocurrency platforms in the world and had been vaunted at a massive scale by super-powered marketing campaigns featuring the likes of Tom Brady and Steph Curry. This month, that house of cards quickly collapsed, leaving many fearful that more blockchain companies, such as FTX rivals Binance and Coinbase, and digital currencies will face a loss of confidence and suffer failures.
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