Crypto exchanges need to prove their financial resilience

Crypto exchanges need to prove their financial resilience
FTX founder Sam Bankman-Fried. (Image: Getty)
Peter Griffin
How can one of the world’s most respected cryptocurrency exchanges go from a US$32 billion (NZ$52b) valuation to bankruptcy in the space of a week?That’s what over one million investors who had assets tied up in FTX are asking themselves as they become creditors lining up in a drawn-out fight to claw back money and digital tokens held by the Bahamas-based exchange founded by MIT graduate and hedge fund trader Sam Bankman-Fried, or SBF as he is known.Where FTX really appears to have come unstuck is in creating its own cryptocurrency...

More Opinion

Our woeful underinvestment in tech skills development
Opinion

Peter Griffin: Our woeful underinvestment in tech skills development

Govt needs to devote due attention and resources to domestic tech skills development.

Five tips when buying a business
Opinion

Georgina Toomey: Five tips when buying a business

Buying an established business can avoid the hassle of starting from scratch. 

Georgina Toomey 29 May 2024
What will Budget 2024 reveal for social investment?
Finance

Adithi Pandit: What will Budget 2024 reveal for social investment?

Everyone loves the idea of social investment – but it needs defining. 

Adithi Pandit 29 May 2024
Conduct re-reforms promise pain relief, FMA on steroids
Opinion

David Chaplin: Conduct re-reforms promise pain relief, FMA on steroids

The step-up in FMA power is certain to wind up the financial services industry.

David Chaplin 29 May 2024