Hedge Funds Question Crypto’s Future

In the aftermath of the FTX collapse - one of the most significant crypto exchanges in the industry, investors and hedge funds are seriously questioning the future of crypto.  FTX was once among the top centralized exchanges, a haven for professional and amateur investors. But now, billions of investors’ dollars have disappeared and its former CEO, Sam Bankman-Fried, has been arrested and denied bond, facing conspiracy and fraud charges.  Binance is the largest exchange by volume and a former rival of FTX. It suffered a wave of withdrawals recently, after releasing its ‘proof-of-reserve’ report, leaving many investors and crypto proponents wondering: should they trust any crypto exchange at all?  And if so, what should it do differently?  Bloomberg reporter Justina Lee joins senior editor Anna Irrera to discuss this. Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter See omnystudio.com/listener for privacy information.