Friday, June 14, 2024

FTX and Crypto Bust Present Capitalism’s Limits

by Jeremy

We’re all astounded that FTX, now basically value nothing, was valued at $32 billion a couple of months in the past, and that lending service Celsius Community clocked in at $3.5 billion earlier than it went below. However we must be asking related questions concerning the investments and deposits that poured into Binance, Coinbase, Kraken, and different such exchanges. I’m not suggesting that they too are on the verge of chapter or are suspected of fraud, quite that we should always mirror on the inflated expectations for long-term development that drew the inflow into the complete trade.

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