# Could FTX’s Collapse Signal Even Tougher Times for Crypto? Here’s What to Know

<https://www.nytimes.com/2022/11/09/technology/cryptocurrency-binance-ftx.html?unlocked_article_code=IkvMP6oU5T2pl5La_uYnz86Y8hrxxYlf6OgDCVL016__TRvF18c0ExLzut9Wknt-vzh_j7JRrkynYEx962z83KsGCoxR9Ay2w-zjVEKfWOuRXdQlPJfKeuGWhSXdE98l_U6CeYA5n5y7UF3ld20wJizDmG4ap00rXg4qp0p_94rUjwK3MyVa3BPwXYip6TEMpH7SpCW_W5GbBWg6FDOiwq51Bf4TbOxweXUcDvfTxVVDH8fQrIQ_2LiHJW7VqBpSdWbd1Xcott1d0DSWhAH1RpRIkk_XnR0j2eYz9a9JzbLeGWfZlR35iGodMwicpaTN3JWnD_TKcIMlGOPtZkSnfnKl2ZkMEoI&smid=share-url>

- Host: [nytimes.com](https://links.thingelstad.xyz/hosts/nytimes.com/)
- Saved: November 10, 2022 (2022-11-11T03:48:10Z)
- Record: https://links.thingelstad.xyz/links/701bba34d415/
- JSON: https://links.thingelstad.xyz/links/701bba34d415.json

## What Jamie wrote

I've read a ton about the fall of FTX this week, and it is still playing out. I’m active in crypto and find the tech compelling so have paid close attention. One of the most important tenets of crypto is to self-custody your tokens. "Not your wallet, not your crypto" is how the saying goes. We are again learning that centralized exchanges on a decentralized platform have the potential for big problems.

This article has a good tlmeline. I’m saddened by the losses that many folks are going to take as a result of this. But I also still see the long-term potential in what can be built. Realistically, I think the FTX blow up pushes back crypto 2-3 years in adoption.

## Facts

- Kind: [Page](https://links.thingelstad.xyz/kinds/page/)

## Appears in

- [WT233: Weekly Thing #233 / Versepad, "Just", Mastadon](https://weekly.thingelstad.com/archive/233/), Notable

## Same host

- [Father of Technoblade, YouTube Minecraft Star, Says His Son Has Died - The New York Times](https://links.thingelstad.xyz/links/060861531ae5/) (nytimes.com, July 1, 2022)
- [Billionaire No More: Patagonia Founder Gives Away the Company](https://links.thingelstad.xyz/links/8121ebb664bc/) (nytimes.com, September 15, 2022)
- [Uber Investigating Breach of Its Computer Systems - The New York Times](https://links.thingelstad.xyz/links/7f26d8ad6218/) (nytimes.com, September 19, 2022)
- [How the 1% Runs an Ironman - The New York Times](https://links.thingelstad.xyz/links/f15610993663/) (nytimes.com, December 8, 2022)
- [Why a Conversation With Bing’s Chatbot Left Me Deeply Unsettled - The New York Times](https://links.thingelstad.xyz/links/e7935a15c143/) (nytimes.com, February 16, 2023)

## Saved the same week

- [What to blog about](https://links.thingelstad.xyz/links/bde4b4669c29/) (simonwillison.net, November 10, 2022)
- [Minneapolis tech firm Code42 lays off 15% of workforce](https://links.thingelstad.xyz/links/c2e887faaf21/) (startribune.com, November 10, 2022)
- [Symul FTX/Alameda Dashboard](https://links.thingelstad.xyz/links/1b65dc640509/) (pub.symul.io, November 10, 2022)
- [Layoffs.fyi - Tech Layoff Tracker and Startup Layoff Lists](https://links.thingelstad.xyz/links/079151faaf9b/) (layoffs.fyi, November 10, 2022)
- [Versepad](https://links.thingelstad.xyz/links/f65418d967ee/) (versepad.com, November 10, 2022)

## Elsewhere

- Wayback Machine: https://web.archive.org/web/*/https://www.nytimes.com/2022/11/09/technology/cryptocurrency-binance-ftx.html?unlocked_article_code=IkvMP6oU5T2pl5La_uYnz86Y8hrxxYlf6OgDCVL016__TRvF18c0ExLzut9Wknt-vzh_j7JRrkynYEx962z83KsGCoxR9Ay2w-zjVEKfWOuRXdQlPJfKeuGWhSXdE98l_U6CeYA5n5y7UF3ld20wJizDmG4ap00rXg4qp0p_94rUjwK3MyVa3BPwXYip6TEMpH7SpCW_W5GbBWg6FDOiwq51Bf4TbOxweXUcDvfTxVVDH8fQrIQ_2LiHJW7VqBpSdWbd1Xcott1d0DSWhAH1RpRIkk_XnR0j2eYz9a9JzbLeGWfZlR35iGodMwicpaTN3JWnD_TKcIMlGOPtZkSnfnKl2ZkMEoI&smid=share-url