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Hedge Funds Question Crypto’s Future | Bloomberg Crypto

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December 20, 2022

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In the aftermath of the FTX collapse - one of the most significant crypto exchanges in the industry, investors and hedge funds are seriously questioning the future of crypto.

FTX was once among the top centralized exchanges, a haven for professional and amateur investors. But now, billions of investors’ dollars have disappeared and its former CEO, Sam Bankman-Fried, has been arrested and denied bond, facing conspiracy and fraud charges.

Binance is the largest exchange by volume and a former rival of FTX. It suffered a wave () of withdrawals recently, after releasing its ‘proofofreserve’ report, leaving many investors and crypto proponents wonderingshould they trust any crypto exchange at all? And if so, what should it do differently?

Bloomberg reporter Justina Lee () joins senior editor Anna Irrera () to discuss this.

Subscribe to the Bloomberg Crypto Newsletter at ()

See omnystudio.com/listener () for privacy information.

Crypto is the world's hottest financial trend. Digital tokens like Bitcoin and NFTs have moved from niche products to showing up in Super Bowl commercials and song lyrics. Advocates of these new asset classes promise they will democratize the finance industry, and they hail the blockchain technology that backs it all as the future of computing. Skeptics say it's another financial house of cards. No newsroom on the planet is better equipped than Bloomberg to cut through all the noise and provide clarity, context and authority.

In this new daily podcast, Bloomberg’s reporting team will tease out what’s actually important in the crypto conversation. Led by crypto expert Stacy-Marie Ishmael, the podcast will draw on reporters in every region and credible voices in the industry to cover everything from regulation to alt coins to DeFi, and even the environmental impact of the currency that promises to change the finance landscape indefinitely.

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CEO Sam Bankman-FriedFTX ItJustina LeeAnna IrreraBloomberg Crypto NewsletterSuper BowlStacy-Marie IshmaelBloomberg Podcasts Watch

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