crypto bitcoin ftx Cryptocurrencies FTX collapse is an ‘explosion' that will lead to more crypto regulation - Howard Marks
The recent collapse of FTX, once the third largest cryptocurrency exchange by trading volume, will hasten the need for regulation in the crypto industry, said Howard Marks, CEO and Co-Founder of StartEngine.
Marks claimed that regulation, such as “net capital rules” and “FDIC insurance,” would have helped prevent these losses. The FTX crisis amplified a broader downtrend in cryptocurrencies known as Crypto Winter, in which crypto prices have been falling since the start of 2022. “It doesn’t really matter,” said Marks. “Venture capital funds invest in all sorts of things. One of them is cryptocurrency companies… but they’re also investing in biotech and green tech and all sorts of great stuff.”“There is a sentiment that we’re going into a recession, and inflation is high,” he said. “What happens with venture capitalists is they get pressure from their limited partners, who are usually pension funds or university endowments, who are asking for caution.
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