I’m actually shook by the amount of funds, companies and exchanges who were exposed to FTX.

Hedge funds, crypto exchanges and trading platforms, even damn teacher retirement funds.

I cannot believe just how many reputable financial institutions were heavily exposed to having collateral on FTX. We know better than anyone the risks involved with this space, and it’s just hard to contemplate that key financial institutions were not only equally invested like retail, but more importantly were actively holding client capital on the exchange.

Retirement funds shocks me the most; so much for defensive assets to ensure a passive income! I’d be devastated if I found out my super fund (I’m Australian – that’s what we have here for retirement) was heavily exposed to crypto as I approached retirement.

I mean, I love crypto, that’s why we are here on this sub, but throwing my life savings into an exchange… No thank you

I really feel deeply for those affected. I hope this is a watershed moment for crypto, as we are highly likely to see more damage fallout over the next month unfortunately – I hope I’m wrong.