NVDA Q3 Earnings Alert: Why our AI stock picker is still holding Nvidia stockRead More

Opinion: Is this exchange the next FTX?

Published 08/24/2023, 12:06 PM
Updated 08/24/2023, 01:40 PM
BTC/USD
-

The blockchain industry has been revolutionary, to say the least. In the last three years, the crypto market has affected and changed lives positively — mine included. And this is why I am a massive advocate of cryptocurrencies and their power to give anyone financial freedom. Perhaps that is why MicroStrategy CEO Michael Saylor’s quote calling Bitcoin (BTC) “digital gold” resonates with me.

As an industry still in its nascent stages, I have had my fair share of unfortunate events happen to me, but none as bad as what I’ve experienced with Bitget. Allow me to share the details of the ordeal in which Bitget seized more than $200,000 of my money, directly caused more than $2.5 million in losses, and — by my estimate — more than $10 million in reputational damage.

Evan Luthra is a 28-year-old cryptocurrency entrepreneur who sold his first company, StudySocial, for $1.7 million at 17 and had developed over 30 mobile apps before he was 18. He became involved with cryptocurrency in 2014 and is currently building CasaNFT. He has invested in more than 400 crypto projects.

Continue Reading on Coin Telegraph

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.