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Lionel Laurent

FTX Hammers More Nails Into Crypto’s Coffin

Even the true believer HODLers and DeFi exchanges must see that the crypto walls are closing in.

Sam Bankman-Fried, founder of FTX. — Sam Bankman-Fried, founder of FTX.
Source: Bloomberg

By

November 18, 2022, 9:24 AM UTC

The disillusionment that follows bouts of crypto euphoria is known as crypto winter. And this one feels like the coldest yet.

Every day seems to bring new revelations of bankrupt exchange FTX’s internal dumpster fire and its tentacular reach into all corners of the cryptocurrency ecosystem, making it look like a blend of Enron and the 2008 financial crash.