Chase Peterson-Withorn joins "Forbes Newsroom" to discuss the fallout from FTX's collapse.
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Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.
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Francisco Gimeno - BC Analyst FTX investors who didn't withdraw funds on time probably won't be able to recover their funds, or if they get some kind of funds in the forte will be after some years. This case has been a very expensive lesson on why regulation is needed, and how in the crypto space there is a lot of people who have used the lack of regulations to act like they have done, from Mt.gox to this happening. FTX investors are not normal people who can be easily scammed. They are big investors in their majority, giving lot of trust and hope on FTX, leading to everyone thinking this was a safe bet. The swirl attracted more and more big names until the fall came. This reminds any historian of economy and finances the banks issues before regulators came to protect investors, customers and everyone to avoid bank runs, and to avoid banks to mismanage funds. And when this happens in the fiat system investors and customers have some kind of insurance and protection.