The Daily Chase: FTX woes continue; Biden and Xi Jinping show diplomacy

​Equity market futures are pointing to a softer open in the wake of some hawkish commentary from U.S. Fed Governor Christopher Waller.

FTX FIASCO DEEPENS

It doesn't appear we're anywhere near the end of the fallout from the collapse of Sam Bankman-Fried's crypto empire. Users pulled some US$3.7 billion worth of Bitcoin and another US$2.5 billion worth of Ether last week, somewhat significant outflows on the face of it. While FTX's failure has been monumental, it's far from the first crypto exchange to flame out in recent years – count it among the ranks of hedge fund Three Arrows Capital, crypto lender Celsius Network and broker Voyager Digital at this point.

A BIT OF HANDSHAKE DIPLOMACY BETWEEN BIDEN & XI