Tales from the crypto prompt calls for FX-style market structures

Demands for interdealers and prime brokers to be brought into crypto market in wake of FTX debacle

Credit: Risk.net montage

For crypto sceptics, the demise of FTX was akin to a Greek tragedy, in which the hubris of its founder, Sam Bankman-Fried, was inevitably followed by nemesis as an empire once valued at $40 billion became essentially worthless.

For crypto investors, however, the exchange’s bankruptcy, and the subsequent charges of fraud against its founder, are more like a horror story – and one that is giving them continued nightmares as they consider how to avoid becoming embroiled in something similar.


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