Animal Spirits Podcast avatar

Dexa/Animal Spirits Podcast

Learn more
Published Nov 16, 2022

The Crypto Blow-Up (EP.283)

Dive into the tumultuous world of markets with Michael Batnick and Ben Carlson as they dissect the crypto catastrophe following the FTX collapse, unravel the complexities of stock market reactions to inflation and Fed expectations, and critique the financial dynamics reshaping social media and streaming giants like Netflix and Disney.
Episode Highlights
Animal Spirits Podcast logo

Topics covered

Popular Clips

Episode Highlights

  • FTX Bankruptcy

    The FTX bankruptcy has left a significant impact on the crypto world. and discuss how FTX International, which was not overseen by U.S. authorities, mismanaged funds leading to a massive fallout. Michael mentions, "People can't get their money out... $16 billion in FTX client funds, 5 billion withdrawn before bankruptcy, won't be called back" 1.

       

    Fraudulent Acts

    The fraudulent activities within FTX were staggering. Michael and Ben explain how allegedly took customer deposits to cover losses at his hedge fund, Alameda Research. Ben notes, "FTX was taking money from their customers, like, straight up" 1.

       

    Future Uncertain

    The future of crypto remains uncertain in light of the FTX collapse. Michael and Ben emphasize the need for regulation to rebuild trust in the industry. Ben states, "Crypto can't move forward without regulation. It just can't" 2.

       

    Rebuilding Trust

    Rebuilding trust in the crypto industry will be a challenging task. Michael and Ben discuss the need for transparency and regulation to regain investor confidence. Michael suggests, "If bitcoin wants to 30,000, would people even care?" 2.

Related Episodes