A brand new evaluation exhibits that the international locations most impacted by the collapse of cryptocurrency trade FTX are South Korea, Singapore, and Japan. Furthermore, Russia, Germany, Turkey, Taiwan, India, Egypt, and Brazil additionally made the highest 10 record of nations most affected by the FTX meltdown.
International locations Most Impacted by FTX Failure
South Korea, Singapore, and Japan high the international locations most impacted by the collapse of the cryptocurrency trade FTX, in keeping with an evaluation by Coingecko, revealed Thursday. The examine examines FTX.com’s month-to-month distinctive guests and site visitors by nation based mostly on Similarweb knowledge from January to October. The crypto trade filed for Chapter 11 chapter on Nov. 11.
In accordance with the evaluation, South Korea is most impacted by the fallout of FTX as 297,229 distinctive customers from the nation visited FTX.com month-to-month on common. This represented 6.1% of the web site’s site visitors.
The following most-impacted nation is Singapore the place 241,675 distinctive customers visited the FTX web site month-to-month, representing 5% of the location’s site visitors globally. When Binance shut down its Singapore operations in December final 12 months, Binance customers reportedly switched to FTX.
The third most-impacted nation is Japan the place 223,513 distinctive customers visited the FTX web site month-to-month, accounting for 4.6% of the web site’s site visitors. Earlier this 12 months, Japanese conglomerate Softbank invested $100 million in FTX.
Apart from the three aforementioned international locations, Russia, Germany, Turkey, Taiwan, India, Egypt, and Brazil additionally made the highest 10 record of nations most impacted by the meltdown of FTX. The evaluation exhibits that solely 92,935 FTX website guests had been from the U.S. Nevertheless, it doesn’t embody site visitors to FTX US which makes use of a separate area.
FTX is at the moment below investigation in varied international locations. Within the U.S., the Division of Justice (DOJ), the Securities and Change Fee (SEC), and the Commodity Futures Buying and selling Fee (CFTC) are investigating the trade for mishandling buyer funds. Turkey’s monetary intelligence unit began investigating FTX final week. The Bahamas Securities Fee has been making an attempt to grab FTX’s cryptocurrencies.
The brand new FTX CEO, John J. Ray, III, who changed Sam Bankman-Fried following the chapter submitting, stated final week: “By no means in my profession have I seen such a whole failure of company controls and such a whole absence of reliable monetary info as occurred right here.”
What do you concentrate on all of the international locations impacted by the collapse of FTX? Tell us within the feedback part under.
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