U.S. Treasury Secretary: The collapse of FTX is the Lehman moment for the crypto industry, and I am surprised by it

ChainCatcher news, U.S. Treasury Secretary Yellen stated at the New York DealBook Summit that the collapse of the cryptocurrency exchange FTX is the "Lehman moment" for the cryptocurrency industry, and she expressed that "I remain skeptical."

Yellen emphasized the importance of having an open attitude towards financial innovation and pointed out that the technology behind cryptocurrencies has the potential to provide faster and cheaper transactions. However, the faster and cheaper features must be robust enough to provide adequate consumer protection. At the same time, she expressed surprise at the collapse of FTX and stated that she does not know FTX founder SBF. (source link)