FTX Shows Crypto Still the ‘Wild West’

<p>FTX Cryptocurrency Exchange rattled the financial world this week when a crisis of investor confidence triggered a run, forcing the company to scramble for a buyer or bailout to avoid collapse. Joining the <em>What Goes Up</em> podcast to discuss the chaos that ensued are Sadie Raney, chief executive of the crypto hedge fund Strix Leviathan, and Nico Cordeiro, its chief investment officer.</p> <p>The firm said it had a limited amount of funds with FTX frozen. “We’ve been through a number of market crashes,” says Raney. “We’ve used Voyager in the past. We also used BlockFi. And when there were some indicators that maybe they were, I guess you could say over their skis, we stopped trading with them.”</p> <p>“This one,” Raney said, “I don’t think anyone saw coming.”</p> <p>Cordeiro adds that while their firm has “some funds frozen there,” it was “a small portion of our portfolio allocated there—simply because this space is the wild west.”</p><p>See <a href="https://omnystudio.com/listener">omnystudio.com/listener</a> for privacy information.</p>