Meet The Everyday Crypto Investors Caught Up In The FTX Implosion
Consider This from NPR
NPR
4.2 • 6.2K Ratings
🗓️ 21 November 2022
⏱️ 12 minutes
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Summary
And he's not the only one. The company's bankruptcy filing says it could owe money to more than a million people.
NPR's Chris Arnold reports on how the FTX implosion is affecting everyday investors.
And NPR's David Gura looks at whether it could spur Congress to pass new regulations on the crypto industry.
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Transcript
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| 0:00.0 | The last 18 months have been a wild ride for crypto currencies and Terry Smith has been |
| 0:06.6 | strapped in for all of it. |
| 0:07.9 | Proceed with caution if you plan on investing in crypto for short. |
| 0:12.2 | It's not for the faint of heart. |
| 0:13.8 | Smith lives in the Seattle area. |
| 0:15.5 | She's semi-retired, works part-time as an architect. |
| 0:18.7 | She had been interested in crypto for a while and got serious in the summer of 2021. |
| 0:24.5 | She started learning more about it. |
| 0:26.2 | And it was fascinating. |
| 0:27.2 | I loved it. |
| 0:28.2 | I loved the technology. |
| 0:29.2 | So she decided to put a chunk of her investment portfolio into cryptocurrencies. |
| 0:34.6 | She split her money across a number of crypto exchanges. |
| 0:38.2 | These are sort of like a website like E-Trade, but instead of stocks and bonds, you buy |
| 0:43.0 | and sell cryptocurrencies. |
| 0:44.6 | And a lot of her money ended up on one of the biggest exchanges, one called FTX. |
| 0:51.0 | It was not just the easiest, but it was the fastest. |
| 0:53.9 | It just was a really convenient platform to use. |
| 0:57.8 | The first her crypto investments were crushing it. |
| 1:00.9 | I had seen it increase basically 100% in less than six months. |
| 1:06.2 | It was about five months that my investment stoubled. |
| 1:09.4 | But 2022 has been a rough year for cryptocurrencies. |
... |
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