Cryptocurrency Q&A
What was FTX doing wrong?
What was FTX doing wrong?
Raffaele
Wed May 08 2024
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7 answers
1966
Could you elaborate on what exactly FTX was doing wrong? I'm curious to understand the specific missteps and practices that led to its downfall. Was it a lack of regulatory compliance? Was there an issue with their risk management? Or was it something else entirely? Could you provide some examples and details about these missteps? I'm particularly interested in the financial practices and strategies that might have contributed to the collapse of FTX. Thank you for shedding some light on this matter.
7 answers
Martino
Thu May 09 2024
The large volume of withdrawals exacerbated the situation.
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ShintoMystical
Thu May 09 2024
The collapse of FTX was triggered by multiple factors.
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Martino
Thu May 09 2024
Binance initially announced its intention to acquire FTX.
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HallyuHeroine
Thu May 09 2024
Central to its downfall was the mismanagement of funds.
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SunlitMystery
Thu May 09 2024
Its aim was to stabilize the market and prevent a larger crash.
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