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The Meteoric Rise and Collapse of FTX

Summary by Ground News

The large cryptocurrency exchange FTX went out of business on November 11. Many have likened this phenomenon to the collapse of the investment banking firm, Lehman Brothers, during the financial crisis of 2008. The FTX collapse will certainly deal a further blow to this entire system.

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The Meteoric Rise and Collapse of FTX

Cryptocurrency is only an external appendage to the capitalist system; hence its collapse won’t jolt the system like the fall of Lehman Brothers.

3 years ago·India

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NewsClick broke the news in India 3 years ago on Monday, November 28, 2022.

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