FTX collapse: Why even 'crypto-bros' are sick of themselves

Tech reporter Jessica Sier and host Lisa Murray examine the downfall of crypto’s “good guy”, why it took investors and regulators by surprise and whether crypto can survive.They unpack whether the collapse of the FTX exchange is crypto’s Lehman or Enron moment and how far the contagion might spread given 44 per cent of Australians own crypto. Background reading: The inside story of the FTX collapse The end this week of one of the world’s most respected crypto exchanges brought back memories of the Lehman failure that sparked the global financial crisis. Thousands of Aussies lose $40k to $1m in FTX collapse Distressed FTX Australia customers have been emailing administrators after their accounts were frozen amid the dramatic implosion of Sam Bankman-Fried’s FTX cryptocurrency empire. Aussie investors told to avoid overseas crypto exchanges after FTX collapse The co-founder of the world’s most important crypto analysis firm has warned investors not to trust their funds to overseas-based exchanges, due to a lack of accountability. Brisbane crypto exchange fires 90 staff as FTX collapse carnage spreads Swyftx has fired 35 per cent of its staff in anticipation of a prolonged downturn in crypto sentiment, following FTX’s collapse.  See omnystudio.com/listener for privacy information.