Money: according to FTX crash: Krypto-Hegdefonds around Bitcoin, Ethereum & Co. have to rethink

shortly before the collapse? Binance buys competitors FTX

 shortly before the collapse? Binance buys competitors FTX Binance, the largest crypto exchange in the world, wants to buy its most important competitor FTX. Behind it is the hope of being able to prevent another collapse, namely that of FTX. © Shutterstock/Askarim Binance wants to swallow FTX - as a rescue measure. Binance boss Changpeng Zhao provided turmoil in Kryptoland on Tuesday. FTX asked for his help because the competing stock exchange had gotten into a significant liquidity crisis, he tweeted.

after the crypto crisis, risk management and the DUE diligence test become even more important.

DANIEL ROLAND/AFP/Getty Images © provided by Daniel Roland/AFP/Getty Images

• Crisis in crypto sector

• Regulation claims

• Effects on crypto hedge funds

The crypto hedge funds want to change their handling of stock exchanges in terms of handling and asset protection. The trigger is the liquidity crisis that caused the once second largest trading center for digital currencies to collapse FTX. The FTX competitor Binance had announced that it would separate from its FTT stocks -this ultimately triggered a crisis in the crypto sector, which resulted in a loss of $ 100 billion in market capitalization within 24 hours, according to CoinmarketCap. In the meantime, Binance had promised a rescue of FTX, but the world's largest crypto exchange has now resigned from its intentions to takeover due to the extent of FTX's problems.

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Burglary and regulatory claims

The quantitative crypto trading company Alameda Research, which was led by the FTX founder Sam Bankman-Fried, had a fortune of almost $ 14.6 billion and the largest individual value of the company was the company FTX token FTT with a value of $ 3.66 billion, followed by Solana worth almost one billion US dollars. After the takeover announcement, the FTT value broke up by 70 percent, Solana by 30 percent, says Financial News.

The crisis is now increasing demands for more extensive crypto regulations. For example, US Senator Cynthia Lummi's "Transparent and Fair Crypto Exchange Regulations" required customers to protect customers. However, the path to stricter regulations is a stony, as a study by the International Monetary Fund showed. Accordingly, the crypto industry is a rapidly developing area, the data situation is too fragmentary for strict regulations and there are too many market participants. In addition, the national efforts are very different, so that global crypto regulation is hardly possible. Carlos Gomez, Chief Investment Officer at the crypto investment fund BEBABA, told Financial News: "We are again witness to turbulence in a very new investment class due to the lack of compliance with the old school." The crypto hedge funds must now face this problem.

Effects for the crypto hedge fund

The co-founder of the crypto hedge fund Altalpha Digital Marc Bernegger announced great effects on the industry, since some of the hedge funds had worked closely with FTX. Now new ways have to be taken and investment policy has to be updated with regard to the concentration of assets. In addition, the DUE diligence test of the stock exchanges with which work is used is essential. "Risk management and DUE diligence examination of the counterparties will become even more important for crypto hedge funds after the FTX crisis," Bernegger told Financial News. So it is now at the crypto hedge fund to regain the trust of investors. Redaktion

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