While some believe the FTX collapse is the straw that breaks crypto, others say it will strengthen the industry in the long run.
Is it just a huge road bump as the world moves to web3, or the cliff’s edge for the industry as we know it?
On November 12, A&T Capital hosted a Twitter Space featuring Footprint Analytics, Huobi Incubator, and Transcrypto News to explore the FTX event’s effect on crypto and blockchain.
Here are the key takeaways.
What just happened to the crypto market?
Whereas the industry was built on trusting the code, the fast growth of crypto has necessitated centralized exchanges. We don’t have any trust mechanisms on centralized exchanges.
In the short and mid-term, the market conditions will be difficult. However, this kind of crisis was necessary to rethink the industry in the long run in a healthy way, as there are massive underlying problems.
“This is a good lesson for ourselves and the crypto market that there is nothing too big to fall in this market
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