![Shortly before its collapse, cryptocurrency exchange FTX exchange halted all withdrawals and locked away billions in customer assets. AFP](https://thenational-the-national-prod.cdn.arcpublishing.com/resizer/v2/DK6DDSW5C2IKJNBOQFTPHSCT7I.jpg?smart=true&auth=19f23fbb21f08497b01ba195acbcec08483890899d1012fc057df68c97421d3b&width=400&height=225)
Shortly before its collapse, cryptocurrency exchange FTX exchange halted all withdrawals and locked away billions in customer assets. AFP
Shortly before its collapse, cryptocurrency exchange FTX exchange halted all withdrawals and locked away billions in customer assets. AFP
Why FTX's collapse highlights the need for decentralised finance
The failure of the crypto exchange is 'eerily similar' to the events of the global financial crisis
Stefan Rust
23 November, 2022