The post Decoding the State of Investors After FTX Collapse appeared first on Coinpedia Fintech News
This year has seen more than its fair share of unexpected market collapses due to surprising news about poorly run cryptocurrency businesses.
This week brings yet another massive change. This time its FTX, the fourth-largest cryptocurrency exchange in the world, which until last week was regarded as a ‘mainstay’ of the sector.
FTX attempted to sell a sizable portion of its running business to rival Binance in a quick chain of events that mostly played out on Twitter after a rush of withdrawals threatened to bring FTX down. But as soon as Binance announced its rescue plan—an acquisition—the business laid off employees.
Among those affected by FTX’s drop are the Ontario Teachers’ Pension Plan Board and BlackRock, the largest asset manager in the world. Both took part in FTX’s Series B-1 investment round.
The Ontario Teachers’ Pension Plan Board and BlackRock, the world’s
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