News Snapshot:
In a recent effort towards protecting their users from incurring more losses, two leading crypto exchanges, FTX and Binance have announced that their users will no longer have access to leverage their trades by up to 100 times again. Binance, FTX announces leverage cut Sam Bankman-Fried, the CEO of FTX, was the first to make the announcement on Sunday. According to him, only a few traders tend to use the high leverage position: “While we think that many of the arguments that high leverage miss the mark, we also don’t think it’s an important part of the crypto ecosystem, and...
