written by
Renjit Philip

Crypto's Lehman Brothers moment: FTX

Web3.0 Crypto Asset 1 min read , November 18, 2022

Much has been written about what happened to FTX, and more will be written in the coming days and months. I decided to do some research and created a friendly slide show for you to go through.

Photographer: Maxim Hopman | Source: Unsplash

If the #ftx deal goes through, one company would own a significant % of the crypto trading volumes globally.

Crypto trading would become even more centralized (the very opposite of the thesis of decentralization)

Regulators are likely to take notice and go hard.

Crypto winter will probably extend for many months, given that retail sentiments will be further affected.

Think of what would happen if the Nasdaq failed to settle trades one fine day.

Or go back to when the Global financial system almost collapsed and took the Lehman Brothers down. This is crypto's Lehman moment.

Another reason why we need right-sized regulations and customer protection.

#ftx #binance #cz #sbf