US lawmakers seek answers from Silvergate about FTX link
United States senators have requested information from Silvergate Capital regarding the firm's association with FTX.
According to Doctor Nouriel Roubini,
An academic study suggests that 81 percent of all ICOs were a scam to begin with; 11 percent of them have failed or have died; and of the remaining eight percent that is traded on exchanges the top 10 have lost on average, in the last year, 95 percent of their value — more than Bitcoin So, there was a bubble — and everybody was riding the bubble, everybody was issuing an ICO, raising money — but now it’s gone bust… I think that they’ve lost already 95 percent of their value and they could lose another 95 percent.”