Financial IT – FTX was crypto’s canary. Financial institutions ignore its demise at their peril
Despite all the issues, crypto’s revolutionary promise remains. Two-thirds of central banks plan to issue their own digital currencies in the next decade. And financial institutions remain eager to harness the potential of blockchain technology to make transactions quicker and cheaper than ever before.
But financial services firms must tread carefully and treat the recent FTX scandal like the canary down the coal mine. The exchange’s demise is an early warning sign that danger lies ahead – and that as crypto continues to grow, the worst may be yet to come.
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