The collapse of one of the largest cryptocurrency exchanges in FTX has prompted fresh calls to better regulate the crypto-asset sector.

Scott Phillips from Motley Fool told Oliver Peterson on Perth Live that allegedly the company borrowed a lot of money against their own cryptocurrency which means the exchange cannot pay back the money borrowed.

“For those that hold coin through that exchange are left basically wondering if they are going to see any of that money again, and I’ve got to say the odds are getting longer by the day,” he told Oly.

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