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And in sochi russia and this years winter paralympics have gotten athletes from around the world will compete as they represent their home countries. The latest on the Opening Ceremony and much more during the show. A fan friday marks up and find him in washington d c on an irrigated and watching our america. Begin today with the latest in ukraine over the past week ukrainian and western officials had begun accusing russia of sending thousands of troops into the crimea region. Back at the claim russia has denied saying instead that the unidentified troops are local militia ask for more on that earlier i spoke with our cheese hollis clear was on the ground in the regions capital. I first asked her to clear up the confusion on who those unidentified troops were really are. Wow its ukrainian reports the same city that point to the figure of some thirty thousand what they say too much of the soldiers who are currently in ukraine pre ....
Bank, that bank has backing to it. the government would come in and rescue what you have inside that bank if there is trouble. what we had here it was the equivalent of what george bailey was trying to keep the good people of his town from doing, when they made that run on the savings and loan in it s a wonderful ride, right? that s what happened to this company. essentially, a big frenzy was set off by a failed merger between these top two cryptocurrency exchanges. the one pulls out of the other, and then that sets off this one on ftx, such that everyone who comes for their money, they lose billions in a day, and now, they are entirely out of business because it turns out they ve been flying without a net all this time, which is true for almost all cryptocurrency schemes out there, stephen. schemes, right there. cryptocurrency schemes. so, for people out there with no investment of crypto, when they hear a story about a business going from 32 billion dollars to essentially worthless ....
Worth what the market agrees it s worth. a group of people basically start treating this stuff back and forth and says, we are going to agree, as a group, that this price is going to be this much or this much. and we ve seen that prices go up and up and up over the past few years, such that ftx, which was one of the two largest cryptocurrency exchanges in the world, went from being with just a few hundred million dollars in 2020, to be in court more than a billion dollars in 2021, and as of last week, it was worth 32 billion dollars but here is the problem. the big difference between the cryptocurrency and the rest of the cryptocurrencies that you are used to in this world is that there is no safety net whatsoever. there is no regulatory kindness, and as a result, when you see, you know, a bank, and novel bank, that bank has backing to it. the government would come in and rescue what you have inside that bank if there is trouble. what we had here it was the equivalent of what george ....
Break it down for us because everybody is talking about it, and i want to inform our audience. so, the way, i guess, i would explain it, stephanie, is that, you know, crypto as a digital currency is really only worth what the market agrees it s worth. a group of people basically start treating this stuff back and forth and says, we are going to agree, as a group, that this price is going to be this much or this much. and we ve seen that prices go up and up and up over the past few years, such that ftx, which was one of the two largest cryptocurrency exchanges in the world, went from being with just a few hundred million dollars in 2020, to be in court more than a billion dollars in 2021, and as of last week, it was worth 32 billion dollars but here is the problem. the big difference between the cryptocurrency and the rest of the courses that you are used to in this world is that there is no safety net whatsoever. there is no regulatory kindness, and as a result, when you see, you kno ....
Would explain it, stephanie, is that, you know, crypto as a digital currency is really only worth what the market agrees it s worth. a group of people basically start treating this stuff back and forth and says, we are going to agree, as a group, that this price is going to be this much or this much. and we ve seen that prices go up and up and up over the past few years, such that ftx, which was one of the two largest cryptocurrency exchanges in the world, went from being with just a few hundred million dollars in 2020, to be in court more than a billion dollars in 2021, and as of last week, it was worth 32 billion dollars but here is the problem. the big difference between the cryptocurrency and the rest of the cryptocurrencies that you are used to in this world is that there is no safety net whatsoever. there is no regulatory kindness, and as a result, when you see, you know, a bank, and novel bank, that bank has backing to it. the government would come in and rescue what you have in ....