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The aftershocks of the FTX fraud continue to ripple through crypto, with entities such as Genesis Trading and the FTX-owned exchange Liquid halting withdrawals over the last couple of days. It’s likely that it will take months or years to determine who the real winners and losers of the biggest scandal in crypto history will be, but there are some interesting market dynamics to be aware of in the immediate aftermath of the collapse of FTX. Using Kaiko’s CeFi and DeFi data, we have identified some important trends that give an indication as to who may stand to win and lose in the future.
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