A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. The meltdown of FTX has sent the price of bitcoin and other cryptocurrencies tumbling more than 60% this year…and the carnage has spread to publicly traded companies with exposure to digital assets.
“FTX’s rapid failure will invite further regulatory oversight and scrutiny of the sector, which we expect will ultimately translate into clearer guidelines for crypto market participants,” said Fadi Massih, vice president of the financial institutions group with Moody’s Investors Service. “This would likely benefit Coinbase, given its size and more established position in the sector.
The banks surely do hate decentralized crypto.
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