Recent fall of FTX shook the crypto ecosystem Also It has come as a lesson for crypto world, though an expensive one.
There are many crypto assets that are currently in the market and are backed by nothing. This has shown that when it becomes too risky to invest in shit coins and why we should avoid it.
Moreover it's becoming clearer that in future a lot of shit coins are going to fall on their face and wipe out from the system.
The fall of FTX also showed the lacuna of POS as well. While ethereum moved to POS. I believe it has in one way or other affected the crypto ecosystem to lead to this fall.
Believe it or not the future is of crypto regulations. The thousands of crypto projects which have been launched without any meaningful backing are going to fall on face.
It's time of retribution for those altcoins
All the naysaying and scepticism of bitcoin will going to end soon. As in a well regulated market only are few currencies will be traded. And for sure bitcoin will lead from front.
What do you mean by backed my nothing? Bitcoin isn't also backed by any physical asset or anything, but it still have value due to user confidence. The other "crypto assets" that you are talking about is are shitcoins that people don't trust. Hence, those coins eventually die and you are left with nothing. It has always been clear that those coins will eventually fall, yet people still invest in those coins wishing to get reach real quick. But not sure what FTX has to do with those coins or POS. Unclear what you are trying to express.