Crypto Crash sets a reminder ‘there is no shortcut for easy money’

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Bitcoin and other cryptocurrencies were soaring at the beginning of the year, and FTX was not yet well-known.

Fast forward 11 months, and Bitcoin and the rest of the crypto market are still fighting to recover from a catastrophic summer meltdown that wiped away USD 2 trillion (that’s with a T) in market value. Leading centralized crypto exchange FTX disintegrated this month after competitor Binance pulled out of a deal to buy it. Investigations were launched, and FTX was revealed to be a house of cards with liquidity concerns and major risk issues that eventually came to light.

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