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🏦 Bankruptcy of the FTX platform in November 2022:
In November 2022, FTX, one of the largest cryptocurrency exchanges at the time, announced its bankruptcy after discovering a massive financial gap exceeding $8 billion. It was revealed that CEO Sam Bankman-Fried had misused customer funds to finance his investment firm "Alameda Research," in a scandal that shook global trust in trading platforms.
The repercussions of this event are still ongoing today, with some of the most notable impacts being:
Tightening regulation: This disaster has pushed many governments (such as the United States and the European Union) to tighten cryptocurrency regulations.
Liquidity exit: It caused a massive outflow of capital from the market, leading to a sharp decline in Bitcoin and altcoin prices at that time.
Collapse of trust: The loss of investor confidence in centralized platforms led to a greater shift towards cold wallets and decentralized finance (DeFi) platforms.
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Do you think the cryptocurrency market has really recovered from the FTX crisis? Share your opinion.
