This week’s Crypto Biz also looks at the crypto industry after FTX collapse, Tether’s Bitcoin mining in Latin America, Tabi’s funding round and Nvidia’s artificial intelligence machines.
Just over six months after FTX’s dramatic collapse, the crypto industry can finally begin analyzing the effects of the debacle. The quick ripple effect to other crypto businesses drained liquidity from the industry and prolonged the crypto winter, with Silvergate Bank, BlockFi and Genesis Global Capital among those hit by the exchange’s collapse.
Companies that closed their United States operations citing regulatory pressure in the past months included Bittrex, Nexo and Unbanked, to name a few. Coinbase CEO Brian Armstrong said this week thatfrom restrictive crypto policies in the U.S., but only time will tell if this is true. , hopefully in time to join the club of crypto companies striving to remain in business after November 2022.
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