‘Big Short’ Burry sees similarity between crypto and the 2008 financial crisis

Since the unexpected bankruptcy of the FTX cryptocurrency exchange on November 11, the crypto world has been trying to play the game of transparency.

The company collapsed in a matter of days due to massive withdrawals from its clients after being valued at $32 billion in February.

How is this possible, investors and regulators ask?

In an effort to gain the trust of the general public, FTX’s rivals, which are mostly unregulated, have been trying to play the game of transparency in recent days. This includes publishing so-called proof-of-reserves reports.

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