Billionaire Bankman-Fried's FTX Becomes Latest Big Crypto Exchange Limiting Risky High-Leverage Trading

the Antigua-based company is removing high leverage starting Sunday by capping margin trading at 20 times invested capital, significantly lower than the exchange's previous limit of 101x.

Bankman-Fried, the 29-year-old billionaire who founded FTX in 2017, also said the restrictions would only impact a"tiny fraction" or"way less than 1%" of the company's trading volume, which over the past 24 hours totaled more than $876 billion .

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A tax loophole is helping bitcoin holders save tons of cash by avoiding federal taxesWith crypto tokens, wash sale rules don't apply, meaning that you can sell your bitcoin and buy it right back, whereas with a stock, you would have to wait 30 days. You sell, you have to pay taxes on it.
Source: CNBC - 🏆 12. / 72 Read more »