Cryptocurrency exchange FTX’s bankruptcy has caused confusion and distrust in the crypto industry.
While the causes and consequences of FTX’s bankruptcy continue to be discussed, comments are also received from important names in the industry.
Finally, the world’s largest market maker, Ken Griffin, Founder and CEO of Citadel He made an assessment about the bankruptcy of FTX.
held in Singapore Bloomberg New Economic Forum’Speaking at the event, the famous billionaire criticized FTX’s dramatic and sudden collapse and described FTX’s bankruptcy as a disgrace.
“FTX is one of those absolute disgraces in the history of financial markets.
Because FTX investors risk losing billions of dollars, which also undermines confidence in all financial markets.”
Evaluating the consequences of FTX’s bankruptcy, Ken Griffin says bankruptcy is a generational cryptocurrency He said it would undermine the confidence of investors and have huge societal effects.
“The consequences of FTX’s bankruptcy are truly dire.
Because there are people between the ages of 20 and 40 who are very interested in the crypto money industry. These people have to save money for their retirement. However, the bankruptcy of FTX damaged people’s trust.
If people don’t believe or trust financial markets, that’s a big problem.”
The famous CEO, who thinks that FTX’s bankruptcy should serve as a lesson for US regulators, crypto- called for tighter cooperation with each other to better control the industry.
On controlling cryptocurrencies SEC with CFTC Referring to the rivalry between the “American regulators’ war for territory must end. The strife around who owns what and to whom is mind-boggling. Because American investors have lost hundreds of billions of dollars in the last two years due to the decline in crypto market value.” said.
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