Cryptocurrency
Important Lessons from the FTX Crypto Exchange Debacle
By Finance Gnome  •  November 13, 2022
FTX was not the first pin to fall but it might be the most important one so far. FTX was the 3rd largest crypto exchange, so for it to fail so hard and so fast came as quite a shocker for many crypto investors. Disclaimer: Btw, I’m quite a crypto noob so I’m just writing what I think happened or is happening. If you’re still in the dark, read this: FTX goes bankrupt in stunning reversal for crypto exchange For me, it’s definitely a wake up call. So far, I haven’t been paying much attention to the crypto failures despite holding crypto. Part of the reason is also because we’re already in crypto winter and my crypto holdings have already fallen so much in value. Depressing to look at it. Nevertheless, I think there are a few important lesson or takeaways from the FTX debacle I think crypto investors (especially noobs like me) should consider and take action on....
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By Finance Gnome
Hi, I’m Calvin! I’m a lucky husband and father of two wonderful kids. I work as an aerospace engineer at my 9 to 5. I’ve been investing since 2011, but my investing journey started off pretty terribly. Many of the stocks I bought lost me loads of money, call it tuition fees. Thankfully most of the time, I managed to bail out before losing everything.
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