Traders who bet on Bitcoin are flying from disappointment to disappointment. The collapse of the giant FTX last week had the effect of a new bombshell. The world’s second largest cryptocurrency exchange, which weighed in at $32 billion, still had a reputation as one of the most powerful in the ecosystem. Its customers, about 100,000 individuals and institutional investors, no longer have access to their funds. Some, however, were able to resume their narrow bet as rumors of insolvency began to abound on the Internet. “I rushed to get my money back, but I have friends who didn’t. They thought FTX was too big to fail.” says Louis, a young bank executive who managed to regain control of the 5,000 euros he invested.
This new episode reinforced the crisis of confidence affecting the most popular of cryptocurrencies. Bitcoin, which spent several months hovering around $20,000,…
Source: Le Figaro
I am Ben Stock, a passionate and experienced digital journalist working in the news industry. At the Buna Times, I write articles covering technology developments and related topics. I strive to provide reliable information that my readers can trust. My research skills are top-notch, as well as my ability to craft engaging stories on timely topics with clarity and accuracy.