Teams may look beyond crypto after FTX collapse, say industry experts - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

FTX filed for bankruptcy on Friday in one of the highest-profile crypto blow-ups after traders withdrew $6 billion from the platform in just 72 hours and rival exchange Binance abandoned a proposed rescue deal.

David Ridpath, professor of sports administration at Ohio University, believes the situation at FTX could “100%” lead to sports firms looking outside crypto to avoid association with the space in future. “While crypto might be cooling off as an emerging category, there are always other growth areas to watch — sports betting, CBD, Fintech, are a few examples to keep an eye on,” Mann said.

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International Finance: FTX latest: balance-sheet blow-up reverberates in crypto marketsCryptocurrency prices slid again, particularly tokens associated with Sam Bankman-Fried’s collapsed FTX empire. There were growing signs that customers of the bankrupt digital-asset exchange have little chance of recovering much of their deposits. The FTX thief stole $1 billion from his customers and donated $100 million to DNC 1. Democrats approved tens of billions in military aid to Ukraine. 2. Ukraine then parked the money into FTX. 3. FTX sent those money as 'donations' back to the Democrats Rinse and repeat.
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