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  • The Christian Science Monitor

    Why FTX collapse doesn’t mean an end for cryptocurrency

    by Laurent Belsie Nov 29, 2022 4 minutes

    The collapse of a key company in an industry that’s creating a new kind of money has put an odd twist on an age-old question: Why do bad people happen to good things?

    The latest character in this financial saga appears to be Sam Bankman-Fried, founder of FTX, which served as an exchange for a digital form of money called cryptocurrency. On Nov. 11, FTX collapsed in spectacular fashion, declaring bankruptcy after 10 tumultuous days of revelations that the company was using customers’ money to buy assets of a sister company. Since FTX is the world’s No. 2 exchange for cryptocurrencies, its failure has stunned the crypto world

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