The FTX fiasco rocks crypto: Three takeaways

Mark Battersby
clock • 2 min read

The FTX fiasco shows why regulation of the cryptocurrency industry is more critical than ever and underscores the importance of choosing the right crypto exchange, according to Nigel Green, CEO of deVere Group. Binance is stepping away from its plans to acquire FTX, leaving Sam Bankman-Fried's crypto empire on the verge of collapse. The reversal of plans comes one day after Binance CEO Changpeng Zhao, known as CZ, announced his firm had reached a non-binding deal to buy FTX for an undisclosed amount, saving the company from a liquidity crisis. Green said: "The wider crypto ecosyste...

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