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Binance's rescue of FTX shows no crypto company is 'too big to fail,' experts say

CNBC Finance LogoCNBC Finance2w ago

Binance's rescue of FTX shows no crypto company is 'too big to fail,' experts say - CNBC Finance

Quick Summary:

Despite FTX being the fourth-biggest crypto exchange, the company wasn't immune from the downturn in digital assets.

Binance's agreement to salvage rival cryptocurrency exchange FTX from collapse shows how no one is safe from the chill of crypto winter, according to industry experts.

The expression "too big to fail" was used during the 2007-2008 financial crisis, and referred to regulators' determination then that certain institutions could not be allowed to go bankrupt, because of the danger such an outcome would pose to the wider financial system.


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Article Details

Category: MarketsFinanceInvesting

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-11-10 @ 15:33:34 (2 weeks ago)

News Timezone: GMT -5:00

Ranking: #2503 (out of 3844 stories this day)

News Source URL: cnbc.com

Language: English

Article Length: 1040 words

Reading Time: 6 minutes read

Sentences: 38 lines

Sentence Length: 28 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CNBC Finance

News ID: 1717519

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About CNBC Finance

CNBC Finance Logo

Main Topics: MarketsFinanceInvesting

Official Website: cnbc.com

Update Frequency: 2 posts per day

Year Established: 2005

Headquarters: United States

News Last Updated: 1 days ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT -5:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #6

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  • URL: https://beamstart.com/news/binances-rescue-of-ftx-shows-16686145091184

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