FTX

There are now more than 22,000 cryptocurrencies on the market, but most have small market capitalisations and unclear use cases, according to a recent Invesco report. The blockchain technology underpinning them, on the other hand, could change the infrastructure of finance.

The collapse of the fifth largest cryptocurrency exchange, joining a growing list of crypto casualties this year, has raised serious doubts about the asset class. Observers say more rigorous oversight is coming.