Data from Crunchbase shows that FTX’s sister firm Alameda Research had spent millions of dollars to back over 170 projects. The fate of these projects, and those acquired by FTX including Bitvo, LedgerX, etc, is now uncertain.
Apart from the direct consequences, one has to consider what this will mean in terms of regulatory crackdown. Lawmakers are already calling for increased scrutiny and regulations. Regulators have started looking into the dealings of FTX. The first contagion gave the SEC an excuse to regulate by enforcement.
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