BoE’s Cunliffe details ‘familiar’ failings at FTX

Deputy governor says crypto assets need to be regulated

Jon Cunliffe
Jon Cunliffe
Photo: Bank of England/Flickr

Collapsed crypto exchange FTX suffered from a series of “familiar” failings that have also plagued the conventional financial sector throughout history, Jon Cunliffe said yesterday (November 21).

The Bank of England deputy governor said many of the problems that ultimately brought FTX down are controlled by regulation in conventional finance. He argued crypto now needs to be subjected to similar rules.

FTX, which had previously been valued at $32 billion, suffered from “fundamental issues”

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact customer services -, or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to FX Markets? View our subscription options

You need to sign in to use this feature. If you don’t have a FX Markets account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: