Bumpy Road for Coinbase, Microstrategy and Bitcoin

The days and weeks ahead are going to be long, very long, for cryptocurrencies and their related businesses. 

The industry is once again going through a crisis of confidence which was provoked by the surprise announcement, on November 8, that the young billionaire Sam Bankman-Fried, who appeared as the savior of companies in difficulty last summer, was going to urgently sell his empire to his great rival, Changpeng Zhao, to avoid an unprecedented liquidity crisis.

This empire is made up of the cryptocurrency exchange FTX.com, whose ambassadors are sports stars Stephen Curry and Tom Brady. There is also the high frequency trading platform Alameda Research.