Cryptocurrency Q&A
Which cryptocurrency went bust?
Which cryptocurrency went bust?
Silvia
Mon Nov 04 2024
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6 answers
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I heard that a certain cryptocurrency recently went bust, causing a lot of investors to lose money. I'm curious to know which one it was, as I want to understand the reasons behind its failure and avoid making similar mistakes in my own investments.
6 answers
AltcoinAdventurer
Wed Nov 06 2024
Unable to meet the increased demand for withdrawals and with a growing deficit in its accounts, FTX was forced to consider bankruptcy as a viable option.
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EthereumEagleGuard
Wed Nov 06 2024
FTX, a cryptocurrency exchange headquartered in the Bahamas, encountered financial difficulties in November 2021.
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SsamziegangSerenadeMelodyHarmony
Wed Nov 06 2024
The exchange's troubles began when a surge in customer withdrawals occurred, placing immense pressure on its financial stability.
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CryptoTitaness
Wed Nov 06 2024
This spike in withdrawals uncovered a significant shortfall in FTX's accounts, revealing an $8 billion hole that the exchange could not fill.
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KDramaLegendary
Wed Nov 06 2024
The revelation of this financial gap led to a loss of trust among FTX's users and stakeholders, further accelerating the withdrawal process.
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