FTX, the world's third-largest crypto exchange platform, filed for bankruptcy today. What caused it, and what does it mean for the future of cryptocurrency? See perspectives across the spectrum from WSJopinion, MarketWatch, and washingtonpost:
A multi-billion dollar bank run on the world’s third-largest cryptocurrency exchange platform, FTX, is leading many to speculate the future of digital currencies and issue warnings of risky investments in unproven, loosely regulated markets.
The Wall Street Journal Editorial Board placed partial blame for the bubble pop on the Federal Reserve, which they state “encouraged excessive risk-taking by keeping real interest rates below zero for so long,” determining, “maybe the best way to rein in excessive risk-taking is for the Fed to continue rolling back the monetary conditions that have encouraged it.
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