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작성자 Alvaro 댓글 0건 조회 5회 작성일 24-02-21 14:38본문
The crypto industry is doomed to repeat the mistakes that led to the collapse of FTX, a top Wall Street short seller has warned.
Cryptocurrencies were plunged into crisis in 2022 after one of the biggest trading platforms FTX went bankrupt.
Thousands of people lost a combined £7billion after boss Sam Bankman-Fried funnelled customer deposits into a separate company he owned. This turned out to be one of biggest ever US financial frauds and led to his conviction last year.
But Marc Cohodes, former hedge fund boss, has said an even larger crisis could be brewing as regulators fail to implement protections for consumers.
'I don't think we have learned any lessons. It is worse than before,' he told the Mail.
Concern: Cryptocurrencies were plunged into crisis in 2022 after one of the biggest trading platforms FTX went bankrupt
'Bitcoin is raging. Rules and regulations haven't changed.' His comments come after US regulators decided to approve so-called exchange-traded funds (ETFs), which look to make crypto trading even more accessible.
The value of bitcoin has surged nearly 50 per cent in six months and is trading at around $42,900.
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And Cohodes said there is a reluctance on both sides of the Atlantic to examine how Bankman-Fried built the now-bankrupt cryptocurrency exchange, and stop something similar happening. 'Nobody wants to dig into how we got there with FTX.
The money behind crypto and its exchanges are big and dirty. Money forces people to look the other way,' he said.
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Cryptocurrencies were plunged into crisis in 2022 after one of the biggest trading platforms FTX went bankrupt.
Thousands of people lost a combined £7billion after boss Sam Bankman-Fried funnelled customer deposits into a separate company he owned. This turned out to be one of biggest ever US financial frauds and led to his conviction last year.
But Marc Cohodes, former hedge fund boss, has said an even larger crisis could be brewing as regulators fail to implement protections for consumers.
'I don't think we have learned any lessons. It is worse than before,' he told the Mail.
Concern: Cryptocurrencies were plunged into crisis in 2022 after one of the biggest trading platforms FTX went bankrupt
'Bitcoin is raging. Rules and regulations haven't changed.' His comments come after US regulators decided to approve so-called exchange-traded funds (ETFs), which look to make crypto trading even more accessible.
The value of bitcoin has surged nearly 50 per cent in six months and is trading at around $42,900.
RELATED ARTICLES
Previous
1
Next
Warning signs a loved one is addicted to crypto trading -... Will bitcoin ETFs send the price higher - and why were... HMRC sends 'nudge' letters to crypto investors it suspects... I'm an investment expert - this is my forecast for savings...
Share this article
Share
HOW THIS IS MONEY can crypto make you rich HELP
how crypto price goes up and down to choose the best (and cheapest) stocks and shares Isa and the right DIY investing account
And Cohodes said there is a reluctance on both sides of the Atlantic to examine how Bankman-Fried built the now-bankrupt cryptocurrency exchange, and stop something similar happening. 'Nobody wants to dig into how we got there with FTX.
The money behind crypto and its exchanges are big and dirty. Money forces people to look the other way,' he said.
DIY INVESTING PLATFORMS
Easy investing
Stocks & shares Isa
£1.50 fund dealing
0.25% fee on fund holdings
Investment ideas
Free fund dealing
Free fund dealing
0.45% account fee capped for shares
Flat-fee investing
No fees
From £4.99 a month
Trade shares and funds for £3.99
Social investing
Social investing
Share investing
30+ million global community
Model portfolios
Investment account
Free fund dealing
Free financial coaching
Affiliate links: If you take out a product This is Money may earn a commission. This does not affect our editorial independence.
> Compare the best investing platform for you how to use crypto in node js
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