JP Morgan stated centralized exchanges are the key player in the recent crypto collapse.
Regulatory bodies initiated an investigation into the defeat FTX exchange.
The financial behemoth JPMorgan shared insight into the complete scenario of the demise of the prominent cryptocurrency exchange FTX. JPMorgan stated that the centralized player is the cause of the recent crypto collapse. Also, the banking giant believes FTX’s failure might eventually make way for more strong regulations for cryptocurrencies.
While the demise of FTX is encouraging crypto skeptics, JPMorgan stated that;
All of the recent collapses in the crypto ecosystem have been from centralized players and not from decentralized protocols.
Regulators Turned to investigate FTX
Sam Bankman-Fried’s FTX is one of the major players in the centralized sector of the cryptocurrency industry. Although, the FTX empire tumbled on Friday after encountering vital liquidity problems. The failure of the crypto exchange sent shock wav
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