“We don’t know the details of a term sheet, is that something other potential firms could compete around?” Allaire said.
“There was a perception that FTX was one of the strongest firms in the space,” said Allaire, who added that the exchange’s rapid decline speaks to the “importance of having a clear regulatory structure” around digital assets in the U.S.
Allaire noted FTX’s base outside of the U.S. and its lack of financial transparency was, “at some level, not the visibility you would have in a regulated markets context.” © 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.By signing-up you agree to our
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