‘Big Short’ Burry Says Crypto Has a Problem Similar to the Subprime Crisis

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By Luc Olinga The fledgling financial services industry has been trying to be transparent since the overnight implosion of cryptocurrency exchange FTX. Since the unexpected bankruptcy of the FTX cryptocurrency exchange on Nov. 11, the crypto space has been trying to play the game of transparency. The firm collapsed in a few days in the face of massive withdrawals from its customers, after being valued at $32 billion in February. How is this possible, ask investors and regulators? In an attempt to gain the trust of the general public, FTX’s rivals, which are mostly unregulated, have been trying…

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