The FTX collapse: More contagion

FTX was indeed insolvent, defrauding customers by co-mingling customer deposits while attending Capitol Hill meetings contributing to laying the groundwork for crypto regulation and attracting institutional capital en masse.
Source: WuBlockchain

We already covered the shocking chain of events last week through our Friday Focus recap and comments on the implications of this farce, where we argued that this will have long-term implications related to regulation and institutional presence and lead to distorted markets for a while.

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