ftx Lehman Shock – pressnews

[ad_1] Crypto’s latest existential crisis, courtesy of Sam Bankman-Fried’s epic faceplant, flared amid far-reaching planned changes in the digital-asset rulebooks of Asian centers. Crypto's latest existential crisis, courtesy of Sam Bankman-Fried's epic faceplant, flared amid far-reaching planned changes in the digital-asset rulebooks of Asian centers including Hong Kong and Singapore.The fall of his FTX exchange showed the world lacked the true picture of its operations. As a result, officials in both jurisdictions and further afield face calls to ensure greater transparency, especially on customer assets. The immediate focus in Asia is on “disclosures of leverage ratios, any conflict of interest with user funds, details of those funds and risk management,” said Cici Lu, founder at V...

[ad_1] The meltdown of Sam Bankman-Fried’s digital assets empire FTX is a “Lehman Shock” to the industry, said the co-founder of bitFlyer Inc. The meltdown of Sam Bankman-Fried's digital assets empire FTX is a “Lehman Shock” to the industry, potentially causing more crypto firms to fail, said the co-founder of major Japanese crypto exchange bitFlyer Inc.“It's a huge impact,” Yuzo Kano said in an interview with Shery Ahn and Haidi Stroud-Watts on Bloomberg Television at the New Economy Forum, adding that the turmoil may push other firms into bankruptcy. “It may actually continue a little bit.” The fall of Bahamas-based FTX, once perceived as among the most dependable names in the sector, has sparked fresh concerns over the loosely regulated nature of crypto companies and what guardrail...

Tag: ftx Lehman Shock

FTX Wipeout Is Latest Test of Nerves for Asia’s Crypto Rule Makers

FTX Is ‘Lehman Shock,’ bitFlyer’s Co-Founder Kano Says