The second largest crypto exchange fails and the founder sees a net worth drop of $16 billion over the course of almost a week. Have I caught your attention?
This Marketplace podcast segment does a good job of explaining what happened in this complicated story.
Here are some questions after your students listen to the pod:
What are some of the reasons why crypto markets are difficult to regulate? What does “run on the bank” mean and how does it apply to FTX failure? Is money safe on a crypto exchange if the exchange fails like FDIC insurance in banks? Do you think the FTX failure will have a short-term or long-term impact on the cryptocurrency?
Want your students to experience the emotions of crypto trading? NGPF’s new Crypto Royale will be released in early December. stay tuned!
About the author Tim Ranzetta
Tim’s saving habit began at seven when a neighbor with a broken hip gave him the task of walking the dog. His recovery, which took about a year, resulted in Tim getting to know the bank teller well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies, and helping families make better college financing decisions. Volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim first saw the impact of an engaging and activity-based curriculum that helped him create a new nonprofit, Next Gen Personal Finance. inspired to start. ,