Leading financial news headlines over the past week has been the collapse of FTX, the world’s third largest crypto exchange. The pace of unravelling was stunning — in the space of a few days FTX has gone from a leader in the crypto economy with a US$32 billion valuation to bankruptcy with up to US$10 billion of customer deposits missing. The exact details behind the exchange’s collapse are still being uncovered, however, it once again emphasises that crypto is the Wild West of financial markets where speculation and scams are rife and investors aren’t afforded the protections they have in traditional asset classes.