The dubious world of cryptos has thrown up yet another controversy. This time its FTX, one of the most ‘well-managed’ and biggest crypto exchanges. In a matter of days, FTX went turtle due to a lack of liquidity and mismanagement of funds, followed by a large volume of withdrawals from rattled investors. Most cryptos crashed after the news, causing serious wealth loss to investors.
At bl.portfolio have always taken an extremely cautious stance about cryptos. In our Big Story ‘The Other Side of Coin’ in the edition dated September 19, 2021, we had highlighted the major risks of cryptos.
What if there is an FTX-like debacle in India? That will really be bad news for investors. Tune in to this podcast to understand how the totally unregulated nature of cryptos in India makes it an unsafe investment and how the FTX meltdown should serve as a wake-up call.