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.
What Happened with FTX was quite unfortunate and I sympathize with the victim, it's really not a funny thing when you lose money.
But what we must understand is that FTX was a disaster waiting to happen. It was always gonna fail and it was just a matter of time.
Moreso, this is not the first time an exchange is shutting down, and it will not be the last time either. More will follow and until the system is completely sanitized, more exchange will go for good.