Business correspondent Paul Kelso takes a look at the fall from grace of FTX founder Sam Bankman-Fried - and what it means for the future of cryptocurrency.
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Francisco Gimeno - BC Analyst FTX's crash has been so huge that many have taken it as the last nail to the coffin for anything crypto. But this is a false narrative. FTX collapsed not because of the intrinsic value or not of crypto, but because of alleged mismanagement of funds, compounded with (again alleged) fraud and scam. This happens also in the fiat market, and it doesn't mean that Finances in fiat have to disappear. In short, FTX has underlined even more a reality: scammers, fraudsters and malpractices aided by lack of proper regulation have to be weeded out from crypto. There is yet a long way for Crypto and all the technology, and for financial products derived from it, and we strongly believe a new improved Crypto.2 will appear, as after the Dot.Com crash of the 1990's helped to create the Internet we have been enjoying for some decades now.