FTX’s Collapse Will Hamper Mainstream Crypto Acceptance, NYSE’s Martin Says
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The collapse of Sam Bankman-Fried’s FTX exchange added a new “layer of complexity” to crypto markets that already faced an uphill fight gaining acceptance from institutional investors, said New York Stock Exchange President Lynn Martin.
The swift fallout “wasn’t a surprise” because of the lack of regulation, Martin said Wednesday at a Reuters conference in New York. “There is no regulatory clarity, no transparency,” and there aren’t central counterparties similar to those found in traditional finance, she said.