{"id":8073,"date":"2022-11-28T07:38:26","date_gmt":"2022-11-28T06:38:26","guid":{"rendered":"http:\/\/costops.com\/index.php\/2022\/11\/28\/crypto-will-survive-the-ftx-collapse-but-more-scandals-will-follow-kenneth-rogoff\/"},"modified":"2022-11-28T07:38:26","modified_gmt":"2022-11-28T06:38:26","slug":"crypto-will-survive-the-ftx-collapse-but-more-scandals-will-follow-kenneth-rogoff","status":"publish","type":"post","link":"http:\/\/costops.com\/index.php\/2022\/11\/28\/crypto-will-survive-the-ftx-collapse-but-more-scandals-will-follow-kenneth-rogoff\/","title":{"rendered":"Crypto will survive the FTX collapse \u2013 but more scandals will follow | Kenneth Rogoff"},"content":{"rendered":"

Bitcoin and ethereum prices have plummeted, but it is unlikely the US will ban cryptocurrencies soon <\/p>\n

The epic collapse of wunderkind Sam Bankman-Fried\u2019s $32bn (\u00a327bn) crypto empire, FTX, looks set to go down as one of the great financial debacles<\/a> of all time. With a storyline full of celebrities<\/a>, politicians, sex and drugs, the future looks bright for producers of feature films and documentaries. But, to paraphrase Mark Twain, rumours of the death of crypto itself have been much exaggerated.<\/p>\n

True, the loss of confidence in \u201cexchanges\u201d such as FTX \u2013 essentially crypto financial intermediaries \u2013 almost surely means a sustained steep drop in prices for the underlying assets. The vast majority of bitcoin transactions are done \u201coff-chain\u201d in exchanges, not in the bitcoin blockchain itself. These financial intermediaries are vastly more convenient, require much less sophistication to use and do not waste nearly as much energy.<\/p>\n

Continue reading…<\/a>
\nBitcoin and ethereum prices have plummeted, but it is unlikely the US will ban cryptocurrencies soon
\nThe epic collapse of wunderkind Sam Bankman-Fried\u2019s $32bn (\u00a327bn) crypto empire, FTX, looks set to go down as one of the great financial debacles of all time. With a storyline full of celebrities, politicians, sex and drugs, the future looks bright for producers of feature films and documentaries. But, to paraphrase Mark Twain, rumours of the death of crypto itself have been much exaggerated.
\nTrue, the loss of confidence in \u201cexchanges\u201d such as FTX \u2013 essentially crypto financial intermediaries \u2013 almost surely means a sustained steep drop in prices for the underlying assets. The vast majority of bitcoin transactions are done \u201coff-chain\u201d in exchanges, not in the bitcoin blockchain itself. These financial intermediaries are vastly more convenient, require much less sophistication to use and do not waste nearly as much energy. Continue reading…Technology | The Guardian<\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin and ethereum prices have plummeted, but it is unlikely the US will ban cryptocurrencies soon The epic collapse of wunderkind Sam Bankman-Fried\u2019s $32bn (\u00a327bn) crypto empire, FTX, looks set to go down as one of the great financial debacles of all time. With a storyline full of celebrities, politicians, sex and drugs, the future …<\/p>\n

Crypto will survive the FTX collapse \u2013 but more scandals will follow | Kenneth Rogoff<\/span> Read More »<\/a><\/p>\n","protected":false},"author":0,"featured_media":8074,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"_links":{"self":[{"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/posts\/8073"}],"collection":[{"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/comments?post=8073"}],"version-history":[{"count":0,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/posts\/8073\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/media\/8074"}],"wp:attachment":[{"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/media?parent=8073"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/categories?post=8073"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/tags?post=8073"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}