How the bankruptcy of FTX, the world's third-largest crypto exchange, undermines trust in cryptocurrency and decentralized finance, making it even more difficult for crypto to ever be taken seriously as a monetary alternative.Topics covered include:How FTX squandered its customers' depositsHow FTX is another example of a private money bank runHow traditional securities lending works and why it is very low risk compared to the highly speculative nature of cryptocurrency lending platformsHow FTX's demise is impacting numerous entities including Voyager, BlockFi, Bitcoin miners, venture capitalists, and many othersHow should individual investors store cryptocurrency, and does it even make sense to continue to own itFor more information on this episode click here.SponsorsLinkedIn – Post your job for freeMoney For the Rest of Us PlusShow NotesDon't Miss Out on Crypto: Larry David FTX CommercialThe spectacular implosion of crypto’s biggest star, explained by Emily Stewart—VoxDivisions in Sam Bankman-Fried’s Crypto Empire Blur on His Trading Titan Alameda’s Balance Sheet by Ian Allison—CoinDeskFTX held less than $1bn in liquid assets against $9bn in liabilities by Antoine Gara, Kadhim Shubber, and Joshua Oliver—Financial TimesFTX balance sheet, revealed by FT Alphaville—Financial TimesFTX Tapped Into Customer Accounts to Fund Risky Bets, Setting Up Its Downfall by Vicky Ge Huang, Alexander Osipovich, and Patricia Kowsmann—The Wall Street JournalAfter FTX: Rebuilding Trust in Crypto’s Founding Mission by Noelle Acheson—CoinDeskHow Sam Bankman-Fried’s Crypto Empire Collapsed by David Yaffe-Bellany—The New York TimesExclusive: At least $1 billion of client funds missing at failed crypto firm FTX by Angus Berwick—ReutersInvestors Who Put $2 Billion Into FTX Face Scrutiny, Too by Erin Griffith and David Yaffe-Bellany—The New York TimesFTX signs deal with option to buy BlockFi for up to $240 mln by Niket Nishant and Aditya Soni—ReutersVoyager Digital and Voyager Official Committee of Unsecured Creditors Provide Update on Reorganization Plan—CisionCrypto lender BlockFi says it has significant exposure to FTX by Manya Saini and Shailesh Kuber—ReutersCoinbase Quarterly EarningsRelated Episodes393: What Happens If Your Brokerage Firm Goes BankruptSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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