FTX Collapse Leads the Way for New Crypto Regulations

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The Street

By Esme Learning Industry leaders should set strong standards, says Binance CEO Zhou, before regulators do it for them. Following the FTX crypto exchange collapse, Changpeng Zhao, CEO of Binance, has likened the collapse to the financial crash of 2008. Comparing the two is “probably an accurate analogy”, he explained at B20 Indonesia. The crash has already affected other major cryptocurrencies, from Bitcoin, which has dropped close to 2020 levels, to Ether, down 20% in a single week—triggering market turmoil. More stringent crypto regulations on the horizon In the wake of the 2008 financial cr…

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