BLUFIn the wake of FTX Cryptocurrency Exchange's bankruptcy, properly regulated financial markets such as stocks and shares look much more attractive—worth remembering the old saying ' Caveat emptor' let the buyer beware.
Dominic Rushe writing in The Guardian makes the following points:
- About one million or so customers who deposited their money in the FTX exchange are unlikely to get any of their money back.
- Other crypto sphere shares have also declined.
- The FTX failure is unlikely to affect core financial markets.
- Investigations have begun into the company.
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References from the Web:
- NOV 2022 Exclusive: At least $1 billion of client funds missing at failed crypto firm FTX-Reuters
- NOV 2022 Why Did FTX Collapse? Here’s What to Know-New York Times