MANILA, Philippines – Less than a month ago, FTX prided itself as a trailblazing cryptocurrency giant, valued at $32 billion. Now the second largest cryptocurrency exchange in the world has filed for bankruptcy.marketplace to dabble in cryptocurrencies. It drew in millions of users with its promises of making Bitcoin, Dogecoin, and any other token easy to buy and sell.
As part of Binance’s exit from FTX equity last year, Binance received roughly $2.1 billion USD equivalent in cash . Due to recent revelations that have came to light, we have decided to liquidate any remaining FTT on our books. 1/4On November 6, Binance announced that it would be pulling out some $530 million worth of FTT. Besides the sheer size, the fact that the withdrawal came from the world’s biggest crypto exchange stoked fears further.
“The idea of an ecosystem with minimized centralized control can be efficient – potentially,” Pimentel said. “The government accountability office of the US actually did a study. They’re also studying, maybe we can do it for contracts, for mortgages, or for supply chains, [and] even for elections.”
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