Crypto Has Grown Outside of Regulatory Oversight but Has No Intrinsic Value, Says Bank of England Deputy Governor

The Deputy Governor of the Bank of England, Sir Jon Cunliffe, says that the collapse of the FTX exchange has exposed the vulnerabilities of crypto assets. In a Sky News interview, Sir Cunliffe says that crypto assets have existed in a regulatory vacuum over the last decade. “I think what it tells you is there’s a lot of activity that’s developed over the last 10 years on the trading and sale of crypto assets. Assets without any intrinsic value, so they’re incredibly volatile. And all of that has grown up outside of outside of regulation.” According