What One of the World's Biggest Banks Thinks About Crypto and the FTX Fiasco
The crypto market has had quite the month -- and year. The most recent debacle involves one of the world's largest crypto exchanges. Like stock trading brokerages, these exchanges allow investors to buy, sell, and even trade crypto on margin or leverage. But unlike traditional stock trading platforms, these crypto exchanges can operate in obscurity.
Recently, FTX, a popular crypto trading platform, announced that it had gone broke. The announcement sent shockwaves throughout the crypto market, causing the prices of just about every cryptocurrency to fall. The entire asset class lost somewhere around $200 billion or 20% of its market value.
Source Fool.com
