Despite all of the drama with FTX:
-Apple pay added USDC support
providing an easy on-ramp for 500mil+
-Gaming juggernauts like Riot games are building in web 3.
-Billion dollar brands are incoming to the space.
Crypto is here to stay.
Despite so many good news that have come to the crypto but none of these news were creating the hype. The bad news were still dominating the crypto market. I think that the latest news came from the genesis has been ruining the crypto market again, lending platform keeps halting user's money. This may make people starting to distrust the crypto market. I thought that if the trust will not come easily to the crypto market again. The bad news has been dominating everything.
Bitcoin is not so strong to handle it. It's not easy to attract the billions dollars that have been going away from the cryptocurrency.
Bad news spread faster than good news and in this situation, cryptocurrency price is used as the basis for determining it effectiveness in the economy since most people take cryptocurrency as an investment and not a currency.
Genesis an affiliate to FTX was a big project that hold lots of investors money, but we must know that genesis is a centralized projects which make it risky to deal with but newbies may not be aware of the risk associated with putting money on centralized platform.
Far better to hold you investment in a personal wallet and not handing control of your balance to third-party services, there have been major setbacks in the crypto industry.
But investors are becoming more familiar with their mode of operations and at that from their experience and the effects of recent events on the price of most coins, more people are now learning to hold the coins in their custody.