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The collapse of the FTX exchange showed that the world of cryptocurrencies is quite unstable: assets worth hundreds of millions of dollars were simply “lost”.
This is definitely worrying the leaders of this world, one of them is Changpeng Zhao, CEO Binance.
After the destruction of Forex, chapter Binance He talked about the importance of regulating cryptocurrencies around the world.
“As an industry, we need to increase transparency. We need to work very closely with regulators around the world to make this industry stronger,” Zhao said at the B20 conference in Bali, Indonesia.
Binance CEO throws darts at SBF
Apparently Sam Bankman-Field, known as SBFresponsible for the fall FTX directly related to their mismanagement.
“To be honest, no one can protect a bad player. If a guy is very good at lying and pretending to be something he isn’t, the law can’t prevent it, but it can help fix the situation,” Zhao said, clearly meaning SBF, calling for raising standards in the world of cryptocurrencies.
Binance wanted to buy FTX… but
Last week, Binance tried to buy FTX to save the cryptocurrency world from another crash.
However, he discovered mismanagement in the company, which allowed him to terminate the contract.
According to him Financial Times, FTX he had $9 billion in liabilities and barely $900 million in assets to sell.
FTX declared bankruptcy at the time Sam Bankman-Field He claims to be staying in the Bahamas, even though he was thought to have fled to Argentina.
Source: RPP
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.