It’s been called crypto’s Lehman Brothers moment, but the FTX crash has done little to dent the optimism of the industry’s remaining big players.
FTX—among the world’s largest cryptocurrency exchanges, which was once valued at $32 billion—filed for bankruptcy last week after reports that founder and CEO Sam Bankman-Fried had mishandled customer funds. Most of FTX’s assets were liquidated in the space of days. The collapse has eroded trust in the industry, and is a blow to investment firms, celebrity endorsers, and many of the 5 million users who stored their digital assets with FTX.
