Exchange Fears Roil Crypto Following SBF’s Arrest



This episode is sponsored by Nexo.io, Circle, Kraken and the Galaxy Brains Podcast.

On this edition of the “Weekly Recap,” NLW looks at how the FTX bankruptcy is proceeding following the arrest of disgraced founder Sam Bankman-Fried, as well as the concerns surrounding Binance that have been present all week.

Nexo is a security-first platform where you can buy, exchange and borrow against your crypto. The company ensures the safety of your funds and keeps innovating with products like the Nexo Wallet – a non-custodial smart wallet that allows you to create your Web3 identity. Get early access at nexo.io/wallet.

Circle, the sole issuer of the trusted and reliable stablecoin USDC, is our sponsor for today’s show. USDC is a fast, cost-effective solution for global payments at internet speeds. Learn how businesses are taking advantage of these opportunities at Circle’s USDC Hub for Businesses.

Kraken, the secure, trusted digital asset exchange, is our sponsor for today’s show. Kraken makes it easy to instantly buy 185+ cryptocurrencies with fast, flexible funding options. Your account is covered by regular Proof of Reserves audits, industry-leading security and award-winning Client Engagement, available 24/7. Sign up and trade today at kraken.com/breakdown.

Galaxy Brains: Whether it’s breaking down market volatility or analyzing the latest development, come for the latest market insights from our in-house trading professionals and renowned experts from across the industry. Stay for the occasional rap from host Alex Thorn. Check out the latest episodes here: https://www.galaxy.com/research/podcasts/galaxy-brains/?utm_source=BD&utm_medium=podcast&utm_id=CoinDesk

“The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. Music behind our sponsors today is “Glasgow” by Falls. Image credit: Malte Mueller/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.

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Cryptocurrency saved and then ruined my life…



Bitcoin and cryptocurrencies can be life-changing, but just as quickly you can lose potentially everything… Honestly crypto has become unbearable for me, a few missteps have left my Bitcoin, Ethereum, and most of my other crypto funds simply gone or in jeopardy…

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Sam Bankman-Fried or simply, SBF, using his Alameda Research and FTX ponzi scheme has decimated many crypto investors and companies, and simply wrecked people’s lives and livelihoods, myself included. Not your keys, not your coins, rings truer than ever. I will never trust, and I will always verify moving forward… FTX seemed too big to fail, regulated by governments, including a US division that was supposed to have even tighter regulation but how ironic, SBF walks around freely after stealing billions from millions… Just sit here wondering how could I have been so foolish, and leave my funds in someone else’s control like FTX, and their subsidiaries, specifically, BlockFi…

⏰ Timestamps ⏰
00:00 The crypto fallout
01:55 The impact of the crypto crash
03:17 The FTX Ponzi Scheme
06:03 Was it possible to see this coming?
07:04 What this means for the future of crypto
09:36 The global recession and depression
12:04 The value of support and family

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VoskCoin is for entertainment purposes only and is never intended to be financial investment advice. VoskCoin owns or has owned cryptocurrency and associated hardware. VoskCoin may receive donations or sponsorships in association with certain content creation. VoskCoin may receive compensation when affiliate/referral links are used. VoskCoin is home of the Doge Dad, VoskCoin is not your Dad, and thus VoskCoin is never liable for any decisions you make.

#VoskCoin #crypto #ftx #cryptonews #bearmarket #cryptocurrency #cryptocrash #sbf

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