DECRYPTION – The confidence of retail investors has been shaken by the rout of cryptocurrency exchange FTX.
Savers who have bet on bitcoin are flying from disillusion to disillusion. Last week, the rout of the giant FTX, had the effect of a new bomb. The second largest cryptocurrency exchange in the world, which weighed 32 billion dollars, nevertheless had the reputation of being one of the most solid in the ecosystem. Its customers – there are about 100,000, individuals and institutional investors – no longer have access to their funds. Some, however, were able to resume their narrow bet, when insolvency rumors began to swell on the internet. “I rushed to get my money back, but I have friends who didn’t. They thought FTX was too big to fall” says Louis, a young executive in the bank, who was able to regain control of the 5,000 euros he had invested.
This new episode has reinforced the crisis of confidence affecting the most famous of cryptocurrencies. Bitcoin, which had been hovering at $20,000 for several months, is…