Nov 12•1 min read
How to survive in the crypto market barely Part 2
The FTX empire is gone.
CEO is gone, and the promise is gone.
It created a huge hole that will ripple the market and industry for a very long time.
FTX filed bankruptcy and all investors' money was gone.
What did we learn from this lesson?
all centralized exchanges will loss their reputations
regulations will be more tougher to prevent bank runs
high leverage loans in crypto will be banned
FTX CEO will be a lesson from the crypto space
crypto industry steps back at least 5 years
the impact will last long time, even forever
All previous crypto companies collapsed may link to FTX and we may know what would happen in weeks.
Empathy for anyone who lost their funds in FTX.
I do wish FTX fiasco can be prevented but apparently, we all were wrong about it.
Long crypto!
