The Limited Times

Now you can see non-English news...

Bankruptcy of FTX: the lessons of a scandal

2022-11-18T19:17:43.364Z


ANALYSIS - The collapse of the cryptocurrency platform is not without consequences. Correspondent in Washington, The FTX affair, which wiped out the investments of more than a million investors and rocked the cryptocurrency world, is easier to understand than it seems. It does not call into question the virtues of the blockchain, a decentralized digital network for recording transactions, which powers cryptocurrencies. Rather, the scandal stems from the fact that FTX, a crypto e


Correspondent in Washington,

The FTX affair, which wiped out the investments of more than a million investors and rocked the cryptocurrency world, is easier to understand than it seems.

It does not call into question the virtues of the blockchain, a decentralized digital network for recording transactions, which powers cryptocurrencies.

Rather, the scandal stems from the fact that FTX, a crypto exchange platform, was stealing money from its customers in order to speculate for its own account on virtual assets that it had created itself, and which were backed by wind. .

This article is for subscribers only.

You have 88% left to discover.

Black-Friday

-70% on digital subscription

I ENJOY IT

Already subscribed?

Login

Source: lefigaro

All news articles on 2022-11-18

You may like

Trends 24h

Latest

© Communities 2019 - Privacy

The information on this site is from external sources that are not under our control.
The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.