Main navigation

CEO of Major Crypto Exchange Predicts More Failures

Wed, 11/16/2022 - 06:17
article image
Alex Dovbnya
The Japan-based bitFlyer cryptocurrency exchange doesn’t have any exposure to FTX, according to CEO Yuzo Kano
CEO of Major Crypto Exchange Predicts More Failures
Cover image via
Read U.TODAY on
Google News

Yuzo Kano, the chief executive officer and co-founder of leading Japanese cryptocurrency exchange bitFlyer, has predicted that more cryptocurrency businesses are likely to go underwater, Bloomberg reports.    

Kano says that the FTX debacle has had a “huge” impact on the industry. 

In addition, the bitFlyer boss has stressed that regulation is “very important.” He urged other countries to follow Japan’s lead when it comes to creating rules for the volatile industry.

Terra’s Do Kwon Says He’s Not Asking for Money
Kano has confirmed that bitFlyer has no exposure to the failed FTX exchange. 

His recent warning echoes a doom-laden prediction recently made by Binance boss Changpeng Zhao. As reported by U.Today, recently drew parallels between the FTX disaster and the 2008 crisis.

article image
About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at