Post
Topic
Board Altcoin Discussion
Re: FTX collapse: Good or bad for crypto in the long run?
by
blockman
on 30/11/2022, 02:24:27 UTC
For now, what FTX has made in the public eye has damaged the image of cryptocurrency itself. Like it or not, we need to go through a quite negative feedback process, including the impact of prices on the market. It was unavoidable or indeed it was an event that gave executives a compelling reason to adopt a much stricter policy. As you said, they take the excuse for the safety of their investors' assets. But beyond that, FTX has undermined the values of decentralization and this fatal consequence will only filter who stays and who will leave crypto for a certain period of time.
To those people that are not yet in crypto, FTX really has broken the image of crypto entirely. But to us, we all know that it's just FTX that messed up and the market is still going on stronger and better with all of these events.
As another part of history has been made, this should be the sign to everyone that in terms of trusting them, we shouldn't give our whole trust of handing them our money and keeping it to any of them.