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    What happened to FTX? Latest crypto collapse puts industry future in jeopardy



    The cryptocurrency industry — and the institutions and investors with billions wrapped up in it — are still coming to terms with the fallout from the collapse of FTX, once one of the largest crypto exchanges in the world.

    In just the past week, the company has had a life preserver offered by a rival exchange ripped out from under it, locked clients out of attempts to cash out their crypto holdings, filed for bankruptcy, and had its CEO and founder resign — all before FTX announced its funds had been subject to “unauthorized transactions.”

    Bitcoin lost more than a quarter of its value last week as the chaos unfolded, the latest fiasco in an already tumultuous year for cryptocurrencies. Experts say the FTX story has “far-reaching” implications for the cryptocurrency industry and those with major stakes in the market, including some Canadian institutions.

    Anne Gaviola has more on how this incredible and bizarre story puts the future of the industry in jeopardy.

    For more info, please go to https://globalnews.ca/news/9276928/crypto-ftx-bankruptcy-canada-explainer/

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    View 40 Comments

    40 Comments

    4. Mark Twain on

      What happened was it turned into a money laundering scheme that collapsed. To mke matters worse they were frontrunning crypto tokens which is highly illegal. Then there is the fact they donated $2,000,000 to the democrats but I guess it wasn't quite enough.
      Zelensky partnered with FTX to "convert" crypto donations into fiat for the National Bank of Ukraine. What a sweet deal that must have been for all parties involved.

    8. Winston Smith on

      History of currency, it’s all intrinsic, it’s value will eventually reach Zero. Since the Greeks and the Egyptians the currency was always gold.
      When they started using paper, a lot of currencies weren’t worth the paper they were printed on. What exactly is Crypto Currency backed by? Garbage.

    11. Symantha on

      Democrat-controlled Congress votes to donate $$$$$ (a whole lot of $$$$$!) to Ukraine > Ukraine invests a lot of $$$$$ in FTX > FTX invests $$$$$ in the DNC right up to Midterm Election Day > Repeat and pull the rug the day after Midterm Elections.

    13. Christiana Winston on

      Most beginners believe that investing in crypto and stock is all about holding till it rises, with the recent crash in the market and recession. We should know that long term price predictions are very difficult to achieve. It's better to trade short term and make profit.

    14. Christiana Winston on

      Most beginners believe that investing in crypto and stock is all about holding till it rises, with the recent crash in the market and recession. We should know that long term price predictions are very difficult to achieve. It's better to trade short term and make profit.

    18. Sharon Newton on

      Look towards the Dems! They love lies, stealing and secrecy! Losses are more from undisclosed cheating than anything else in crypto or the election results! They are shameless! Check it out! Love your show! Has anyone looked at the actual counts in the "declared" blue states and their final vote counts. Many races were declared blue after only 37% of the votes were counted! Does anyone even see these lies that were slipped the American people by distracting them with Pennsylvania, Arizona & Nevada! Does anyone care enough to research the declared blue states to check for TRUTH in counting at least 90% of all votes???

    26. Chop in Suey on

      可憐的中國
      I live in China. Everything is a scam here, from government funding to bank deposits to house buying. Everything is a scam.
      Seriously if there is next life, I wish to be born in any other country, except China..

    28. Havertz Musk on

      Thanks for the update and keep doing what you do. My journey in the current market has taught me a lot of lessons, thinking about investing diversification certainly is the key, that’s why I engaged in sectors based on projected growth. There are no shortcuts to getting rich but there are smart ways to go about it. professional Eunice Berthold has been my advisor and trader for a while now she has been doing a great job reviewing all charts and trade which has enhanced the growth of my portfolio to a six figures lately

    30. LynxenX on

      yet another ponzi scheme falls apart, and the people left holding the bag are regular people who didn't know any better. I will be glad when crypto is relegated to obscurity, the sooner the better. Its scams within scams within scams.

    31. J4r3k K on

      Enron = FTX , kids do reaserch first. Well , free explane. I'm looking for Gold in Yukon" example" I fing I got. Value ? what i find represent value. Virtual shie……t you find it ? NO !!! You hope represent value, 2001 ……2008 …….. 2022 any more examples ?! dont need it. Just Get back to work as normal human . And all stry wil be good. 1928 🙁

    37. PING1 on

      Great example of why The West is collapsing- Systemic Corruption! NOT Hackers or China's fault! 'The Jimmy Dore Show' uncovers the truth of the corruption in FTX.

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