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.
Indeed, the collapse of the FTX platform affected the destabilization of the bear crypto market and gave the market a severe blow after the collapse of the Luna and after the huge losses of investors in it. Now the FTT coin collapsed and many companies followed it into bankruptcy. I think that the Solana coin will face the same fate in the near future, so we must be careful. And I see that what led to the exacerbation of the FTX platform crisis is the Binance exchange after it withdrew from its acquisition deal. This crisis was a blow to the investors neck, and I hope that they learned this harsh lesson so that they do not fall into such a crisis again.What are your thoughts? Your input will be greatly appreciated. Thank you very much.
LOL, you cannot blame the crash of FTX on finance. There is no reason for binance to buy back FTX and take on the debt of up to 8 billion that FTX has lost, FTX has no potential or benefits for binance if acquired. It is true that the collapse of FTX is having serious consequences for the market but I do not feel sorry for a company so weak in asset management and dishonest in business, abusing customers' money to do things for themselves is not acceptable. It's no different than stealing other people's money.