BoE’s Cunliffe details ‘familiar’ failings at FTX
Deputy governor says crypto assets need to be regulated
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”
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