FTX collapse raises questions about the future of crypto regulation

18 November 2022 00:00

Duration: 11:16

It wasn’t long ago that Sam Bankman-Fried, the former CEO of crypto-currency company FTX, was talking about bailing out his struggling rivals in order to safeguard the “crypto ecosystem.” But Bankman-Fried is now in no position to bail out anyone, following a week of turmoil that saw FTX filed for bankruptcy and freeze all withdrawals. What has emerged since then is what the company’s new CEO, John J. Ray, has described as a “complete failure of corporate controls” that has prompted renewed calls to regulate the crypto industry. But for now, the FTX implosion appears likely to tarnish other crypto players and, indeed, the entire ecosystem.

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Editorial Team

James Panichi
Phoebe Seers

James Panichi Senior Editor, Asia Pacific

James Panichi

James, an Australian journalist with over 25 years’ experience in print and electronic media, helps to oversee MLex’s coverage of regulatory risk in Asia, with special attention to Australia and New Zealand. In 2016, James was appointed as MLex’s managing editor for continental Europe, overseeing the Brussels bureau’s coverage of EU regulatory affairs and managing a team of 16 journalists in Brussels and Geneva. Previously James worked for the European Voice newspaper, before joining the... Read more

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Phoebe Seers Correspondent

Phoebe Seers

Phoebe has covered Financial Crime and compliance issues for MLex since 2015, initially in the Hong Kong bureau and currently in London. While in Hong Kong she won two SOPA awards for her reporting on corruption in the energy sector in Indonesia. Prior to journalism she worked as a solicitor with a focus on white-collar crime litigation in London and Hong Kong. She has a BA in English and Philosophy from Newcastle University.

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