BURLINGTON, Vt. (WCAX) - The Vermont Department of Financial Regulation on Thursday issued a warning about the risk of investing in cryptocurrencies.
It comes after a US-based cryptocurrency exchange, FTX, filed for bankruptcy a few weeks ago. Several cryptocurrency companies have failed this year as Bitcoin and other digital currencies have collapsed in value. FTX floundered when it experienced the crypto equivalent of a bank run, and early investigations found that FTX employees commingled client assets with the assets they were investing.
Darren Perron spoke with Ethan McLaughlin, Assistant General Counsel for the Vermont Department of Financial Regulation, about the potential pitfalls of cryptocurrency.
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