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What if crypto just...dies? - by Noah Smith - Noahpinion

noahpinion.substack.com · 573 words · saved by 1 readers

The fall of FTX means more than just one insolvent exchange.

I was going to get up and write about the election today, but the Democrats did so unexpectedly well that control of both the House and the Senate is still uncertain. So I think I’ll write a post about the other big thing that just happened — the sudden implosion of FTX. For those who are unaware, FTX is one of the main cryptocurrency exchanges. It’s located offshore, though it also owns a much smaller U.S. exchange called FTX.US. The founder and CEO of FTX is Sam Bankman-Fried, known as SBF, who also runs a trading firm called Alameda Research. Together, Alameda and FTX allowed SBF to…

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