The collapse of a major crypto exchange, has once again taken the world by storm. There is a lot of FUD being spread by mainstream media, making people believe this is the final chapter for crypto/Blockchain tech. Now, US lawmakers are pushing towards stricter regulations with the excuse of helping protect investors' interests. Other countries could follow the US, greatly stifling the growth of the industry. I'm beginning to wonder whenever the collapse of FTX would be good or bad for crypto in the long run? This looks like another Mt. Gox situation, so it's likely things will be better in the long run after the dust settles. But I'm not so sure, especially when governments are now seeing crypto as a threat to the existence of Fiat (something they didn't think about when crypto was in its early years).
What are your thoughts? Your input will be greatly appreciated. Thank you very much.
What are your thoughts? Your input will be greatly appreciated. Thank you very much.
To be honest i don't really see any positive aspect of that whole FTX crash at the moment. I mean the immediate effects where that the whole crypto market, that was already going down for a few months, was hit buy another big dump. Of course you can now say that this is a good opportunity to invest and such but we just don't know if we are not going to see another drop in prices of 30% or more from here on.
The only good thing is that obviously FTX was not really financially healthy anymore so i am happy that they are gone now already and that this news did not come up during the start of a potential bull market, because that would have killed it right away in my opinion.