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DESNÉ MASIE: FTX crypto scandal is investment story as old as time

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Contagion that follows first investor alarm reveals illusion that all assets are self-fulfilling prophecies

The past few weeks have seen the story unfolding of one of the biggest corporate failures yet — not just the biggest in the fledgling crypto sector.

It all started when one of the world’s largest crypto exchanges, FTX and its related companies, including hedge fund Alameda Research, started shedding billions in value, putting customers’ deposits and investors’ capital at risk...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and TimesLive Premium.

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Yet we keep get tripped by the same stone over and over again.

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