Opinion
FTX investor losses show the dangers of giving control to exchanges
A single bitcoin is worth $US26,000 more today than when the exchange collapsed, but investors being “paid back” won’t see any of that upside.
Jessica SierNorth Asia correspondentTortuous conversations around “if only I’d bought bitcoin back in ...” have started again. Only now, they’re more likely to be: “If only FTX had repaid me my bitcoin instead of US dollars ...”
Last week, the administrators of collapsed crypto exchange FTX announced that all creditors – from investors to traders to the Bahamas beach bar – would be paid back in full.
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