What happened to crypto exchanges after FTX collapse?

Crypto exchanges, lending platforms and token issuers quickly became top priorities for the Securities and Exchange Commission, with a flurry of enforcement activity following the collapse of FTX.

Is FTX a 'Lehman Brothers moment' for crypto?

FTX, a crypto exchange, went from being worth $32 billion to filing for bankruptcy in what many are calling the “Lehman Brothers Moment” for crypto. Sam Bankman-Fried, the founder of FTX and Alameda Research, became a prominent figure in the crypto space while becoming one of the wealthiest people by the age of 30.

What is FTX & how does it work?

FTX is one of the world’s largest cryptocurrency exchanges. It enables customers to trade digital currencies for other digital currencies or traditional money, and vice versa. It is based in the Bahamas and was run by Mr. Bankman-Fried. It has spent millions of dollars lobbying U.S. legislators to institute crypto-friendly regulation.

What happened to Taylor Swift after the FTX collapse?

In the aftermath of the FTX collapse, it came out that the exchange had attempted to negotiate a $100 million sponsorship with Taylor Swift. It’s difficult to fathom how a company can go from paying for the naming rights of an NBA arena to filing for bankruptcy the following year.