Crypto-Friendly Pension Fund Legislation Sparks Controversy

Crypto-Friendly Pension Fund Legislation Sparks Controversy

Elvis sang a blue Christmas, but cryptocurrency investors are beating the holiday rush.

The crypto industry has been rocked by the stunning collapse of the FTX cryptocurrency exchange.

Founder Sam Bankman-Fried was the face of the crypto space business until the company filed for Chapter 11 bankruptcy on November 11, when it ran out of money and didn’t was able to meet the demands of its panicked clients who wanted to liquidate their crypto holdings.

“Markets are definitely in trouble right now,” said Martin Hiesboeck, head of blockchain and crypto research at Uphold. “Historically, Thanksgiving meant a bull run for Bitcoin. However, there is a lot of uncertainty following the collapse of FTX and possible bankruptcy of Genesis – which could mean investors risk more losses this time around.”

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