{"id":14704,"date":"2022-11-22T07:00:15","date_gmt":"2022-11-22T07:00:15","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/report-featured-bitcoin-news\/"},"modified":"2022-11-22T07:00:15","modified_gmt":"2022-11-22T07:00:15","slug":"report-featured-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/report-featured-bitcoin-news\/","title":{"rendered":"Report \u2013 Featured Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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A new analysis shows that the countries most impacted by the collapse of cryptocurrency exchange FTX are South Korea, Singapore, and Japan. Moreover, Russia, Germany, Turkey, Taiwan, India, Egypt, and Brazil also made the top 10 list of countries most affected by the FTX meltdown.<\/strong><\/p>\n

Countries Most Impacted by FTX Failure<\/h2>\n

South Korea, Singapore, and Japan top the countries most impacted by the collapse of the cryptocurrency exchange FTX, according to an analysis<\/a> by Coingecko, published Thursday. The study examines FTX.com\u2019s monthly unique visitors and traffic by country based on Similarweb data from January to October. The crypto exchange filed for Chapter 11 bankruptcy<\/a> on Nov. 11.<\/p>\n

According to the analysis, South Korea is most impacted by the fallout of FTX as 297,229 unique users from the country visited FTX.com monthly on average. This represented 6.1% of the website\u2019s traffic.<\/p>\n

The next most-impacted country is Singapore where 241,675 unique users visited the FTX website monthly, representing 5% of the site\u2019s traffic globally. When Binance shut down its Singapore operations in December last year, Binance users reportedly switched to FTX.<\/p>\n

The third most-impacted country is Japan where 223,513 unique users visited the FTX website monthly, accounting for 4.6% of the website\u2019s traffic. Earlier this year, Japanese conglomerate Softbank invested $100 million in FTX.<\/p>\n

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List of top 10 countries most impacted by the FTX collapse. Source: Coingecko.<\/figcaption><\/figure>\n

Besides the three aforementioned countries, Russia, Germany, Turkey, Taiwan, India, Egypt, and Brazil also made the top 10 list of countries most impacted by the meltdown of FTX. The analysis shows that only 92,935 FTX site visitors were from the U.S. However, it does not include traffic to FTX US which uses a separate domain.<\/p>\n

FTX is currently under investigation in various countries. In the U.S., the Department of Justice (DOJ), the Securities and Exchange Commission (SEC), and the Commodity Futures Trading Commission (CFTC) are investigating<\/a> the exchange for mishandling customer funds. Turkey\u2019s financial intelligence unit started<\/a> investigating FTX last week. The Bahamas Securities Commission has been trying to seize<\/a> FTX\u2019s cryptocurrencies.<\/p>\n

The new FTX CEO, John J. Ray, III, who replaced Sam Bankman-Fried following the bankruptcy filing, said<\/a> last week: \u201cNever in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here.\u201d<\/p>\n

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countries impacted by FTX<\/a>, FTX collapse<\/a>, FTX fallout<\/a>, FTX Germany<\/a>, FTX india<\/a>, FTX Japan<\/a>, FTX meltdown<\/a>, FTX Russia<\/a>, FTX Singapore<\/a>, FTX South Korea<\/a>, FTX turkey<\/a><\/div>\n<\/div>\n

What do you think about all the countries impacted by the collapse of FTX? Let us know in the comments section below.<\/strong><\/em><\/p>\n

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\nKevin Helms <\/h6>\n

\nA student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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