Pantera Capital Says FTX Crashed Because it Was Unregulated

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According to Pantera Capital CEO Dan Morehead, the collapse of FTX does not mean the failure of blockchain technology or cryptocurrencies, as regulated exchanges continue to perform well.

He has mentioned Coinbase, Kraken, and Bitstamp as examples. According to him, these platforms, along with Upbit, have increased their market share by 30% since October.

He believes that “these are exchanges that when a customer sends them money, they just deposit it in the bank. A simple solution. Obviously, trade here will turn to regulated sites.”

He has also noted that licensed subsidiaries of FTX like LedgerX or units in the US were not affected by the liquidity crisis at the parent structures.

He thinks transparency and trust in the crypto industry will be facilitated by a full-fledged audit by the Big Four firms.