{"id":12708,"date":"2022-11-16T05:11:36","date_gmt":"2022-11-16T05:11:36","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2022\/11\/16\/bitflyer-ceo-expects-ftx-contagion-to-spread-across-other-firms\/"},"modified":"2022-11-16T05:11:36","modified_gmt":"2022-11-16T05:11:36","slug":"bitflyer-ceo-expects-ftx-contagion-to-spread-across-other-firms","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2022\/11\/16\/bitflyer-ceo-expects-ftx-contagion-to-spread-across-other-firms\/","title":{"rendered":"bitFlyer CEO Expects FTX Contagion to Spread Across Other Firms"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<p>\n<iframe loading=\"lazy\" src=\"https:\/\/coingape.com\/bitflyer-ceo-calls-ftx-collapse-a-lehman-shock-expects-further-damage\/about:blank\" width=\"320\" height=\"100\" marginwidth=\"0\" marginheight=\"0\" hspace=\"0\" vspace=\"0\" frameborder=\"0\" scrolling=\"no\" data-rocket-lazyload=\"fitvidscompatible\" data-lazy-src=\"https:\/\/servedbyadbutler.com\/adserve\/;ID=180936;size=320x100;setID=508113;type=iframe;click=CLICK_MACRO_PLACEHOLDER\"><br \/>\n<\/iframe><noscript><iframe loading=\"lazy\" src=\"https:\/\/servedbyadbutler.com\/adserve\/;ID=180936;size=320x100;setID=508113;type=iframe;click=CLICK_MACRO_PLACEHOLDER\" width=\"320\" height=\"100\" marginwidth=\"0\" marginheight=\"0\" hspace=\"0\" vspace=\"0\" frameborder=\"0\" scrolling=\"no\"><br \/>\n<\/iframe><\/noscript>\n<\/p>\n<p>The shock waves of the FTX collapse have unfold throughout the complete crypto business. As the second-largest crypto trade collapsed, greater than $200 billion have been eroded from the crypto area in every week\u2019s time.<\/p>\n<p>Yuzo Kano, the chief government officer and co-founder of main Japanese crypto trade bitFlyer Inc. referred to as it the \u201cLehman shock\u201d to the crypto business. Yuzo believes that FTX\u2019s collapse might unfold like a contagion inflicting extra companies to fail.<\/p>\n<p>We have seen that crypto lending giants like BlockFi have already <a href=\"https:\/\/coingape.com\/crypto-lender-blockfi-halts-withdrawals-as-ftx-contagion-spreads\/\" target=\"_blank\" rel=\"noopener\">paused withdrawals<\/a> at their finish, owing to the FTX disaster. Another crypto lender Salt has paused deposits and withdrawals saying that the FTX collapse has impacted their enterprise.<\/p>\n<p>The collapse of Lehman Brothers in 2008 unfold throughout the complete banking business main to a worldwide recession. With the FTX disaster, the bitFlyer CEO is anticipating the same scenario within the crypto area.<\/p>\n<p>Yuzo Kano additionally praised the regulatory system in Japan saying that the Financial Services Agency (FCA) has efficiently carried out a double layer of oversight. This ensures larger safety for customers.<\/p>\n<p>\u201cI think regulation is very important,\u201d <a rel=\"nofollow noopener\" href=\"https:\/\/www.bnnbloomberg.ca\/ftx-is-lehman-shock-more-failures-may-come-bitflyer-ceo-1.1846998\" target=\"_blank\">said<\/a> Yuno. \u201cThe rest of the world may follow\u201d Japan to strengthen its regulatory oversight on digital property. He additionally mentioned that there ought to be guidelines whereby the crypto exchanges handle shoppers\u2019 property individually from their very own. He additional confirmed that bitFlyer had completely no dealings with the FTX. Thus, the collapse has \u201cno impact at all\u201d on the Japanese trade.<\/p>\n<h3>bitFlyer \u2013 Crypto Financial Crisis<\/h3>\n<p>The bitFlyer CEO will not be the one one to evaluate it with the Lehman Brothers incident. Earlier this, Binance chief Changpeng Zhao additionally in contrast it to the 2008 monetary disaster and mentioned that the business will take a while to recuperate from it. He mentioned:<\/p>\n<blockquote>\n<p>\u201cI think that\u2019s probably an accurate analogy. With this type of event happening, it\u2019s devastating for the industry. A lot of consumer confidence is shaken, and I think basically it sets us back a few years. With FTX going down, we will see cascading effects. Especially for those close to the FTX ecosystem, they will be negatively affected.\u201d<\/p>\n<\/blockquote>\n<p>Binance\u2019s chief additionally referred to as for establishing <a href=\"https:\/\/coingape.com\/binance-chief-pushes-for-global-crypto-standards-amid-ftx-crisis\/\" target=\"_blank\" rel=\"noopener\">global standards<\/a> for cryptocurrencies to stop such occasions sooner or later.<\/p>\n<div class=\"TabDicA\">\n<div class=\"TBAcon \">\n<div class=\"authorFlip tabcS\" id=\"TabA127455\">\n<div class=\"authorBox\">\n<div class=\"author_Name\">\n<p>\nBhushan is a FinTech fanatic and holds a superb aptitude in understanding monetary markets. His curiosity in economics and finance draw his consideration in the direction of the brand new rising Blockchain Technology and Cryptocurrency markets. He is repeatedly in a studying course of and retains himself motivated by sharing his acquired information. In free time he reads thriller fictions novels and generally discover his culinary expertise.\n<\/p>\n<\/div>\n<div class=\"author_Image\">\n <img loading=\"lazy\" decoding=\"async\" alt=\"\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/6d622b7613c3c79c72d94a2e7cffa3b2?s=400&amp;d=mm&amp;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" src=\"https:\/\/secure.gravatar.com\/avatar\/6d622b7613c3c79c72d94a2e7cffa3b2?s=200&amp;d=mm&amp;r=g\"\/><noscript><img loading=\"lazy\" decoding=\"async\" alt=\"\" src=\"https:\/\/secure.gravatar.com\/avatar\/6d622b7613c3c79c72d94a2e7cffa3b2?s=200&amp;d=mm&amp;r=g\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/6d622b7613c3c79c72d94a2e7cffa3b2?s=400&amp;d=mm&amp;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\"\/><\/noscript> <\/div>\n<\/div>\n<\/div>\n<div class=\"TabDesCm tabcS\" id=\"TabD127455\">\n<p> The introduced content material could embrace the non-public opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn&#8217;t maintain any duty in your private monetary loss.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/coingape.com\/bitflyer-ceo-calls-ftx-collapse-a-lehman-shock-expects-further-damage\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] The shock waves of the FTX collapse have unfold throughout the complete crypto business. As the second-largest crypto trade collapsed, greater than $200 billion have been eroded from the crypto area in every week\u2019s time. Yuzo Kano, the chief government officer and co-founder of main Japanese crypto trade bitFlyer Inc. referred to as it [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":12710,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ocean_post_layout":"","ocean_both_sidebars_style":"","ocean_both_sidebars_content_width":0,"ocean_both_sidebars_sidebars_width":0,"ocean_sidebar":"","ocean_second_sidebar":"","ocean_disable_margins":"enable","ocean_add_body_class":"","ocean_shortcode_before_top_bar":"","ocean_shortcode_after_top_bar":"","ocean_shortcode_before_header":"","ocean_shortcode_after_header":"","ocean_has_shortcode":"","ocean_shortcode_after_title":"","ocean_shortcode_before_footer_widgets":"","ocean_shortcode_after_footer_widgets":"","ocean_shortcode_before_footer_bottom":"","ocean_shortcode_after_footer_bottom":"","ocean_display_top_bar":"default","ocean_display_header":"default","ocean_header_style":"","ocean_center_header_left_menu":"","ocean_custom_header_template":"","ocean_custom_logo":0,"ocean_custom_retina_logo":0,"ocean_custom_logo_max_width":0,"ocean_custom_logo_tablet_max_width":0,"ocean_custom_logo_mobile_max_width":0,"ocean_custom_logo_max_height":0,"ocean_custom_logo_tablet_max_height":0,"ocean_custom_logo_mobile_max_height":0,"ocean_header_custom_menu":"","ocean_menu_typo_font_family":"","ocean_menu_typo_font_subset":"","ocean_menu_typo_font_size":0,"ocean_menu_typo_font_size_tablet":0,"ocean_menu_typo_font_size_mobile":0,"ocean_menu_typo_font_size_unit":"px","ocean_menu_typo_font_weight":"","ocean_menu_typo_font_weight_tablet":"","ocean_menu_typo_font_weight_mobile":"","ocean_menu_typo_transform":"","ocean_menu_typo_transform_tablet":"","ocean_menu_typo_transform_mobile":"","ocean_menu_typo_line_height":0,"ocean_menu_typo_line_height_tablet":0,"ocean_menu_typo_line_height_mobile":0,"ocean_menu_typo_line_height_unit":"","ocean_menu_typo_spacing":0,"ocean_menu_typo_spacing_tablet":0,"ocean_menu_typo_spacing_mobile":0,"ocean_menu_typo_spacing_unit":"","ocean_menu_link_color":"","ocean_menu_link_color_hover":"","ocean_menu_link_color_active":"","ocean_menu_link_background":"","ocean_menu_link_hover_background":"","ocean_menu_link_active_background":"","ocean_menu_social_links_bg":"","ocean_menu_social_hover_links_bg":"","ocean_menu_social_links_color":"","ocean_menu_social_hover_links_color":"","ocean_disable_title":"default","ocean_disable_heading":"default","ocean_post_title":"","ocean_post_subheading":"","ocean_post_title_style":"","ocean_post_title_background_color":"","ocean_post_title_background":0,"ocean_post_title_bg_image_position":"","ocean_post_title_bg_image_attachment":"","ocean_post_title_bg_image_repeat":"","ocean_post_title_bg_image_size":"","ocean_post_title_height":0,"ocean_post_title_bg_overlay":0.5,"ocean_post_title_bg_overlay_color":"","ocean_disable_breadcrumbs":"default","ocean_breadcrumbs_color":"","ocean_breadcrumbs_separator_color":"","ocean_breadcrumbs_links_color":"","ocean_breadcrumbs_links_hover_color":"","ocean_display_footer_widgets":"default","ocean_display_footer_bottom":"default","ocean_custom_footer_template":"","ocean_post_oembed":"","ocean_post_self_hosted_media":"","ocean_post_video_embed":"","ocean_link_format":"","ocean_link_format_target":"self","ocean_quote_format":"","ocean_quote_format_link":"post","ocean_gallery_link_images":"on","ocean_gallery_id":[],"footnotes":""},"categories":[13],"tags":[5162,44,2699,3677,4016,887,5163],"class_list":["post-12708","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-regulation","tag-bitflyer","tag-ceo","tag-contagion","tag-expects","tag-firms","tag-ftx","tag-spread","entry","has-media","owp-thumbs-layout-horizontal","owp-btn-normal","owp-tabs-layout-horizontal","has-no-thumbnails","has-product-nav"],"_links":{"self":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts\/12708","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/comments?post=12708"}],"version-history":[{"count":1,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts\/12708\/revisions"}],"predecessor-version":[{"id":12709,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts\/12708\/revisions\/12709"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/media\/12710"}],"wp:attachment":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/media?parent=12708"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/categories?post=12708"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/tags?po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