Vicky Ge Huang
speaker
80 appearances
2 recordings
1 series
first heard Nov 2022
last heard Sep 2024
Vicky Ge Huang’s voice in public audio — every appearance, attributed to the second.
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But in the treasury space, bonds are considered nearly risk-free.
WSJ Your Money Briefing · Why Bitcoin Plummeted When a Binance-FTX Deal Collapsed · 10 Nov 2022
podcast
There is this phrase in the crypto industry called not your keys, not your money.
So if you place your cryptocurrencies, your Bitcoin on a crypto exchange, you sort of have to consider the risk that you might not be able to get it back.
Thank you for having me, JR.
Cryptocurrency exchanges play a very big role in the crypto ecosystem because they are the venues where traders or investors go to buy or sell their cryptocurrencies.
So for example, if you as an investor want to buy Bitcoin,
In the US, you will probably go to an exchange like Coinbase.
You will place an order and that's how you know you would have your Bitcoin holdings.
It's similar to if you open your Robinhood app and you place an order for shares of any stock you would like to buy.
It's sort of a similar process where if you were to go to a crypto exchange, whether it's Coinbase or Binance or Kraken,
You would usually open up an app on your phone and then you would place an order.
And that's how you would be placing an order for cryptocurrencies that you want to purchase.
because FTX has always been seen as one of the fastest growing and healthy financial crypto exchanges.
The cryptocurrency market has had a few months of market carnage since the summer.
But FTX has actually been one of the players that has survived through the market carnage.
So that gives the sort of impression that FTX is in very good financial health.
So this deal sort of showed that it is actually not in good financial health and could
potentially be insolvent.
That's why it needed a bailout from Binance, the world's largest cryptocurrency exchange.
So that's why it really took the crypto industry by storm.
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