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Welcome to the crypto ice age


A number of months in the past, the cryptocurrency change FTX was valued at about $32 billion. Its model was plastered on the Miami Heat’s arena and on the umpires in the course of the World Series. Tom Brady was hawking it during the Super Bowl.

Now, FTX is getting into chapter. More than a million creditors might have misplaced their cash. And FTX’s founder, Sam Bankman-Fried, is going through the possibility of civil or criminal charges.

The spectacular collapse of FTX is inflicting shockwaves throughout the finance and enterprise worlds, nevertheless it’s notably dangerous for the way forward for crypto. Bankman-Fried — or “SBF” as he’s identified in crypto-land — was the boy marvel of the trade, the pleasant face main the cost to combine crypto into the standard monetary system.

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