and announced "FTP extension" on Friday that it filed for Chapter 11 bankruptcy in the Delaware area as its founder resigned. Fried Sam Bankmanfrom the presidency of the company, which had lost about 94 percent of its wealth in one day due to this crisis, to go from about $16 billion, to less than a billion dollars, in one of the worst periods of destruction in the personal wealth ever.
Collapse "FTP extension" It shook up the cryptocurrency market which had already suffered from a months-long price drop. The court will now consider how to deal with the interests of the platform’s customers, creditors and business partners who require a thorough investigation.
And it was a platform "FTP extension" Last year it claimed to have more than 5 million users worldwide and to have traded more than $700 billion in cryptocurrency that year alone.
Stressing the importance of regulating the digital asset market, he said gives inOn other regulated exchanges, you would have segregation of client assets"has explained: "The notion that you could use client deposits on the exchange and lend them to a separate institution you control to make risky, leveraged investments would be inadmissible.".
While Yellen expressed regret for the losses suffered by individual investors following the collapse of the platform "FTP extension"But he said the crisis could have been worse if cryptocurrencies were more integrated into the financial system.
She said: "At least it’s not deeply integrated with our banking sector, and it doesn’t pose a broader threat to financial stability at this point".
It was a cryptocurrency trading platform "FTP extension"it was exposed to a severe liquidity crisis, a deficit of up to $8 billion, and its attempts to get a bailout package from industry players failed.
The trading platform crisis was exacerbated by the company’s withdrawal "binance"The largest stock exchange cryptocurrency In the world, since its acquisition deal, which has been seen as a lifeline for"TFX extension".
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Yellen added, in an interview with Bloomberg, that the crisis “FTP extensionwhich has dealt a major blow to the cryptocurrency market “shows the vulnerabilities of the entire sector”.
And “FTX” announced Friday that it had filed for Chapter 11 bankruptcy in the Delaware region, and its founder has resigned. Fried Sam Bankmanfrom the presidency of the company, which had lost about 94 percent of its wealth in one day due to this crisis, to go from about $16 billion, to less than a billion dollars, in one of the worst periods of destruction in the personal wealth ever.
The collapse of FTX has shaken the cryptocurrency market, which has already been suffering from falling prices for months. The court will now consider how to deal with the interests of the platform’s customers, creditors and business partners who require a thorough investigation.
The FTX platform said last year that it had more than 5 million users worldwide and traded more than $700 billion in cryptocurrencies that year alone.
Stressing the importance of regulating the digital asset market, he said gives in“On other regulated exchanges, you would have segregation of client assets,” he explained. “The idea that you can use client deposits on the exchange and lend them to a separate institution that you control to make risky, leveraged investments. .. would not be admissible.”
Although Yellen lamented the losses suffered by retail investors following the collapse of the FTX platform, she said the crisis could have been worse if cryptocurrencies were more integrated into the financial system.
“At least it’s not deeply integrated with our banking sector, and it doesn’t pose a broader threat to financial stability at this point,” he said.
Cryptocurrency exchange FTX has been hit by a severe liquidity crisis, running a deficit of up to $8 billion, and its attempts to secure a bailout package from industry players have failed.
The trading platform crisis has been exacerbated by the withdrawal of Binance, the largest trading exchange cryptocurrency In the world, since its acquisition, which has been seen as a lifeline for “TFX”.
