Crypto

FTX collapse should serve as a reminder of the risks of crypto assets, says ECB’s De Cos

MADRID, Nov 16 (Reuters) – The collapse of crypto exchange FTX should remind clients of the risks in crypto assets, European Central Bank policy chief Pablo Hernandez de Cos said on Wednesday.

“We hope that the events we have experienced recently will raise awareness of the risks associated with these crypto-assets,” said De Cos when asked about the collapse of FTX.

The exchange, which had been one of the largest in the world, filed for bankruptcy protection on Friday in one of the most publicized crypto explosions after panicked traders withdrew $6 billion from the platform. formed in just 72 hours and rival exchange Binance dropped a bailout deal.

Reporting by Jesús Aguado and Emma Pinedo; edited by David Latone

Our standards: The Thomson Reuters Trust Principles.

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